Who We Are
GEG ehf. is an Iceland-based geothermal development and consulting company founded in 2019, with extensive knowledge of delivering turn-key geothermal power plant solutions from wellhead to transmission line connection. GEG and the company’s acquired assets have strong experience in the industry, having successfully implemented 16 plants across both Kenya and Iceland.
With its unique business model, GEG was able to effectively design, engineer, and provide the necessary construction work, assembly on-site, and commissioning in one single package. This enabled power plant development to be significantly sped up, supporting a faster return on investment, while providing a high degree of flexibility in potential build-out of the plants. GEG’s proprietary design also allowed for both the lowest cost and environmental footprint per MW. GEG initially focused on the delivery of geothermal wellhead power plants on a turn-key basis to clients worldwide, and has since adapted the business model with extraordinary results.
Today, GEG is developing geothermal projects with our partners around the globe, including working with private developers, to step earlier into the development cycle. The company is also greatly utilizing our team of experts and international partners to work towards expanding our services within the geothermal arena. We at GEG believe there is an urgent need for geothermal development which fully considers any and all resource and development risk, and which has responsibility for the environment. Sustainable resource exploitation and business practices are a major priority for our company. Lastly, GEG sees an opportunity to utilize the resource beyond power generation and is investigating direct use applications of geothermal energy. GEG has active projects across South America, Africa, Central Europe, and India.
GEG ehf. was founded in Iceland in 2019 on a market opportunity for modular smaller-scale power plants. With a unique modular small-scale wellhead power plant design, and the development model from wellhead to transmission line, GEG pioneered the “turn-key” modular geothermal wellhead power plant concept with one of the world’s lowest footprints per MW.
Mission & Vision
Our mission is to provide efficient, expert-level socio-environmentally sustainable integrated geothermal project management and consultancy services. We offer a unique and proven approach on modular development, which uses the smallest land footprint as well as the fastest path to energy generation. We are also committed to minimizing the impacts of climate change.
The GEG team consists of the company’s management team and geothermal research assistants, all based at our headquarters in Iceland, as well as our advisors and partners located around the globe.
Board of Directors
The GEG team works with a number of trusted individuals to help oversee our business on behalf of our shareholders.
In our global geothermal and business development, GEG maintains various international working relationships. This includes work with national utilities, private developers, and OEMs.
In our work, environmental, social, and governance (ESG) principles are seen as crucial for GEG’s business and international activities. GEG has implemented a holistic sustainability policy focusing on ESG matters to help manage risks and opportunities to develop a reduced time, low-risk, and low-cost geothermal energy solution in our commitment to support the UN’s Sustainable Development Goals (SDGs).
Geothermal power is not only a sustainable, environmentally-friendly, and reliable source of energy, but it also has various advantages over other renewable energy technologies. Geothermal has many diverse and community-benefitting applications as well, such as direct use, which GEG aims to fully utilize in our ongoing and future projects.