GEG is proud to announce that for the third year in a row, our company’s quality management system has been ISO 9001 certified.
At the end of last year, we successfully underwent an audit conducted by BSI (the British Standards Institution) here at our Iceland headquarters. Our quality management system was found to have zero non-conformities, echoing GEG’s commitment to good governance throughout our business. What a way to ring in the New Year!
Congrats to the entire team as we look forward to another great year at GEG.
We would like to wish all of our friends, family, and industry partners a safe and happy holiday season! Let’s welcome the new adventures that 2023 will bring — stay tuned to our LinkedIn page for our exciting updates in the months to come!
How’d You Like Them Apples? Iceland Ministry for Foreign Affairs Consultant Gets an Up Close and Personal Look at Our Ongoing Geothermal Cooling Project Development in the Himachal Pradesh.
27 October 2022 — Last month, GEG ehf. had the honour of hosting Erik Arling, the Sustainable Development Goals (SDGs) Partnership Fund consultant from NIRAS for the Iceland Ministry for Foreign Affairs, at our project site in India. Arling is responsible for reviewing grants for the SDG Fund, the same fund through which GEG was awarded our grant early last year for our geothermal cooling project.
A five-day trip was held to carry out a review of this apple cold storage project, now called GeoCool, in the Kinnaur district of the Himachal Pradesh. This in-depth review was followed by a warm welcome from the local villagers, and GEG along with Arling was able to have a positive discussion with them regarding the project.
The group also went on a site visit to the Satluj (Sutlej) River basin, where the first successful drilling had been carried out just last month. Visits to several other prospective areas with geothermal resource potential were carried out as well.
It is GEG’s hope that the initial success at our first drilling location will continue throughout the region to many more sites, ideally increasing the societal benefits of the project.
This visit from a delegate from the Foreign Ministry was highly acknowledged by the local apple farming community, signifying the importance of the cold storage development project.
Thanks to this trip, Arling also had the unique opportunity to visit the local apple farms and to interact with the growers during the apple harvest, as his trip coincided with the peak season. Throughout this experience, the direct social impacts of GEG’s funded project could be seen in real time by the Ministry.
GEG and the Local Drilling Team Have Managed to Obtain the Required Threshold Temperature for Cooling Following the Official Start of the Drilling Process in the Himachal Pradesh!
06 September 2022 — GEG ehf.’s Chief Research Officer (CRO) Dr. Chauhan has been on location in Northern India with a local drilling team, in order to begin operations on our geothermal cooling (GeoCool) project. The direct use project will utilize the resource within the Himachal Pradesh to provide a cold storage solution for local apple farmers’ produce.
This will ideally contribute towards increased food security in the region, and will support the overall economy. The collective efforts of GEG’s geothermal cooling project in India greatly reflect our commitment to social sustainability in all of our projects. This project has also been supported by a grant from the Ministry of Foreign Affairs in Iceland, through their Business Partnership Fund for the UN Sustainable Development Goals (SDGs) — also known as the Sustainable Development Goals Partnership Fund.
Last week, GEG and the team of local experts delivered the necessary equipment to the project site and stationed the drilling rig in the target area. Following this, the drilling work could finally begin.
With operations officially kicking off on 31 August, GEG is proud to report back that on the first attempt the tapped resource has already proved to be extremely fruitful. The temperature measured at the surface of the first drilling site was 78 degrees C, and close to the boiling point going towards the bottom of the drilled well. This is very exciting news for the future of our cold storage project.
Our CRO’s discovery during the early survey and exploratory work, that the project area’s potential was even greater than his initial estimation, appears to have been accurate so far.
This week, GEG and the dedicated local drilling team are already pushing on to the next drilling site. Check out our LinkedIn page for more updates on the India geothermal cooling project, and to see more photos of the ongoing work in the area as operations continue to progress!
Read more about our ongoing projects around the world:
Our CRO Dr. Vijay Chauhan, Along With Iceland’s Ambassador to India, Met With the Chief Minister of the Himachal Pradesh to Further Discuss Our Innovative Geothermal Cooling Project
28 July 2022 – On July 23rd, GEG ehf.’s Chief Research Officer (CRO) Dr. Vijay Chauhan attended an important meeting in Delhi along with Iceland’s ambassador to India, Guðni Bragason.
There, Dr. Chauhan had the opportunity to meet the Chief Minister of the state of Himachal Pradesh, Mr. Jai Ram Thakur, and to thank him and the state government for granting GEG permission to conduct our exploration studies earlier this year. These studies were performed in order to assess the geothermal resources within the Kinnaur region of the Himachal Pradesh for the ongoing apple cold storage project.
The main purpose of this meeting was to discuss the full scope of further development for GEG’s geothermal cooling project in the state. As horticulture and tourism make up the primary industries of the Himachal Pradesh, a wide variety of other cascaded applications of geothermal utilization were discussed, including: fruit drying, aquaculture, tourism, and heating homes.
Dr. Chauhan explained the advantages of exploiting the available geothermal resource within the Himachal Pradesh, such as increased food security in the region and increased revenue generation for local communities.
Following this crucial meeting, Chief Minister Thakur guaranteed that the state would provide all possible support needed for the success of GEG’s geothermal cooling project, including the utilization of the resource for other geothermal applications, as these can provide considerable benefit to the local community.
Earlier this year, GEG welcomed an expert team of Research Assistants from a local university to officially join our team and take part in our geothermal energy projects
19 July 2022 — GEG would like to welcome our new Research Assistants to the team, who are all Master’s students from Reykjavik University (Háskólinn í Reykjavík). They are a part of the university’s Iceland School of Energy graduate program and will be completing their MSc. thesis projects with us here at our headquarters in Iceland. GEG’s Research Assistants will work alongside the rest of the team on the company’s actual, in-progress geothermal projects as a part of the company focus on R&D.
“I’m very excited to start working along with the GEG team, I’ve found a group of people with whom we share our perspective regarding the importance of geothermal energy and the possibilities it represents. I’ll be looking forward to making the most of this great opportunity I’ve been given!”
Jennifer Jolliffe is from Campbell River, Canada and will be working on her thesis project concerning Geothermal Energy Utilization with a Value-Added Lithium Extraction Component. Jen is a professional geologist with over 15 years of experience and a BScH in Geological Sciences from Queen’s University.
“I am very passionate about my thesis project, because lithium is one of the main strategic elements in the green energy transition. I believe that anyone who is able to help develop our low carbon future should do so and I am so excited to partner with GEG to accomplish my research goals and to give me valuable work experience in this field.”
Laura Constanza Bocanegra Rodríguez, from Bogota, Colombia, will be working with our team on our early-stages Ecuador project. Her MSc. project is on Re-purposing Oil and Gas Wells for Geothermal Energy Use in Ecuador. Laura is a professional geologist with over 8 years of experience and a Bachelor’s in geology from the National University of Colombia (Universidad Nacional de Colombia).
“I’m excited to be a part of this amazing team, where the same passion in geothermal and social responsibility will help me to grow as a professional in the geothermal industry. I’m looking forward to start this incredible opportunity!”
We are thrilled to have these three MSc. students joining us as official members of the GEG team, and are excited to see where their projects will go and what new discoveries within the geothermal field can be made here at our Iceland office!
We are so pleased to announce that seasoned financial industry expert Rúna Hagalínsdóttir has joined the GEG ehf. team as our new Chief Financial Officer.
Rúna has over 15 years of experience in the financial sector in Iceland, since the year 2000. Prior to joining GEG, Rúna served as the Managing Director of Business Development and Finance at North Tech Energy (NTE). Before joining NTE, Runa became a part of Kvika Investment Bank in 2016, where she worked as a specialist within Operation and Finance, serving as specialist in Organizational Development since 2018. Prior to joining Kvika, Rúna was with Straumur investment bank starting in 2007 as their Director of Debt Management, later becoming the CEO and Attorney Assistant.
Rúna holds a B.Sc. Degree in Business and Marketing from Reykjavik University and a Masters degree in Business and Administration (MBA) focused on Executive Administration from Reykjavik University since 2014.
GEG ehf.’s CRO Has Been Actively Involved in Stakeholder Engagement in the Kinnaur District of Northern India, Ensuring That Our Commitment to Complete Social Sustainability is Upheld Throughout Our Geothermal Cooling Project
31 May 2022 — GEG ehf. has been excited to announce the success and ongoing progress of our efforts in India. At the end of March this year, our Chief Research Officer (CRO) Dr. Vijay Chauhan completed the on-site survey and exploratory work for the GEG geothermal cold storage project located within the Kinnaur district.
This project’s main aim is to provide a long-term storage solution for local apple farmers to increase food security in the region, and to reduce the reliance on larger industry players.
Throughout the early on-site work, Dr. Chauhan worked closely with community members and local workers, even conducting a workshop on the project prior to the start of any survey work. Participants included local graduate students, farmers whom the project will directly affect and involve, and leading professionals within the tourism industry.
Carrying this focus on stakeholder engagement, Dr. Chauhan also participated in an interview with one of the leading social activists and teachers in Kinnaur during the final days of his on-site work.
The interviewer, Mr. Rahul Kavil Kirti Negi, has amassed a strong sense of trust within the public and has garnered a good amount of support following his campaign on the environmental impact of hydroelectric power plant development in the area.
Interviewed alongside Dr. Chauhan was Mr. Rajeev Mehta, a local farmer and entrepreneur. Mr. Mehta has a high level of interest in and knowledge of renewable energy development, as he has a background in civil engineering and has been greatly involved in the growing tourism industry in Kinnaur. Mr. Mehta’s support of geothermal energy development in the region comes from his belief in its positive impacts overall.
Mr. Negi’s interview of Dr. Chauhan and Mr. Mehta primarily involved a discussion on the objective of geothermal energy development in the Kinnaur region, and its contribution to local economies – particularly within the agricultural sector. Dr. Chauhan explained how truly economical and environmentally sustainable development can be achieved by utilizing geothermal energy for direct use applications (ex: cooling, drying, and/or heating for homes).
The social sustainability of the development project increases in conjunction with how relevant these direct use applications are to the conditions and needs of the region. The interviewees also explain that there is a negligible land footprint with geothermal development as compared to that of the ongoing hydropower development in the region. Hydroelectric power development in Kinnaur has in fact been cause for significant environmental concerns among the local community.
Increased public awareness through workshops and interviews like Mr. Negi’s has greatly helped GEG build a greater sense of support and trust in this project’s development among local communities. The full posting of the video (not in English) is included here, where comments and opinions from the public can also be seen.
Development projects like the one in Northern India are only as successful as their degree of social responsibility. Without the inclusion of and involvement of the nearby affected community, a project cannot be deemed truly “sustainable” – despite its positive environmental or ecological benefits.
This is a dedication held by GEG ehf. and a practice we plan on applying to all of our other ongoing as well as future geothermal developments.
As we move onto the next phase of our geothermal cooling project in India, new updates and insights will be accessible on our LinkedIn page as well as in the News page on our website.
Jordan Oxley, Managing Director of Energy Co-Invest Global (ECG) and Director of CINDRIGO LTD, has been officially appointed as the new Chairman of GEG ehf.
10 May 2022 — We are happy to share the news that Jordan Oxley, Managing Director of Energy Co-Invest Global (ECG) and Director of Cindrigo Ltd., has been officially appointed as the new Chairman of GEG ehf.! This news follows the acquisition of ECG by Cindrigo, ECG being the largest shareholder of GEG.
Jordan’s background as an energy developer and financier will bring on a highly relevant set of skills and innovative expertise to GEG.
“Mr. Oxley will place a special emphasis on international partnerships, including with project financiers and green bond issuers as well as critical OEMs and service providers. While significant attention will be devoted to the financing and build of GEG’s power plants, Mr. Oxley will also support GEG’s recent innovations such as direct use geothermal for cold storage and their highly efficient approach to geothermal asset management.”
GEG Asked to Present Our Current Ongoing Projects to an Executive MBA Cohort from the US, Hosting the Students at Our Main Office in Reykjavik
06 May 2022 — This past Monday, our team had the honor of presenting our ongoing projects to an Executive MBA cohort from Case Western Reserve University. The cohort travelled from Ohio in the United States to learn more about renewable energy and sustainable business in Iceland.
GEG ehf. was asked to be a part of this tour, and we were delighted to host the 20 students, who work in a variety of fields and industries ranging from medicine to finance, at our main office in Reykjavik.
The MBAs enjoyed a robust discussion on GEG’s modular approach to geothermal development and Iceland’s perspective on geothermal. GEG’s Chief Research Officer Dr. Vijay Chauhan also gave a special presentation on our exciting geothermal cold storage project in Northern India as well as the wide variety of other direct use applications possible with geothermal energy. A Q&A with the GEG team followed.
GEG believes that engagement with other industries and information-sharing is crucial when working in the field of sustainable energy. Increasing the awareness and understanding of renewable technologies, and the roles they can play in our lives and futures, is necessary to one day build a carbon-neutral world together.