Canadian investor enters the EPC geothermal market with acquisition of GEG

Canadian investor enters the EPC geothermal market with acquisition of GEG

OLK02 wellhead plant of GEG at Olkaria in Kenya (source: Green Energy Geothermal) In a release today, it is announced that Canadian energy development company Energy Co-Invest Global Corp. (ECC Global) has acquired Green Energy Iceland, and its parent group Green Energy Geothermal assets, intellectual property, and technology to strengthen its position in the global geothermal market.”

Green Energy Geothermal (GEG), a leading provider of turn-key modular geothermal wellhead power plants. With the acquisition, GEG is consolidating its operations and headquarters in Reykjavik Iceland, where it has maintained its core engineering and support teams since its founding in 2008.

GEG provides unique and innovative modular EPC solutions to geothermal projects around the world. The company brings a wealth of experience within the design, engineering, procurement, commission, project management and operation of geothermal power plants. Working closely with a consortium of international partners and suppliers, the company sells Icelandic geothermal know-how on a global scale.

To date, the company has built and delivered fifteen modular geothermal wellhead plants in Kenya for the Kenya Electricity Generating Company (KenGen) with a combined power generation capacity of 81 MW. Currently, the company is in the later stages in the construction of a 5 MW turbine-generator package for the Bjarnarflag Geothermal Power Plant for Landsvirkjun, the Icelandic National Power Company. Furthermore, the company is involved in a multitude of global projects at various stages in Asia, Eastern Africa, the Caribbean, and Latin America. All these projects, capitalize on the second-to-none speed to market implementation strategy, offered by the GEG modular EPC solution.

“Throughout our work on project financing for several geothermal projects, we got to know Green Energy Geothermal and its Icelandic team and its world class capabilities. When the opportunity arose to acquire the company, we recognized great synergies in offering turn-key Modular EPC solutions along with our project financing expertise,” says Jordan Oxley, CEO of Energy Co-Invest Global Corp.

About Green Energy Geothermal

Green Energy Geothermal (GEG) is a pioneer in geothermal modular wellhead power plant technology. Delivered on an EPC/turn-key basis, GEG’s solution allows for a modular approach to geothermal power development using prefabricated modules, commissioned on site on an accelerated time-frame. It enables a reduction in capital cost and project risk, providing a quicker payback on investment. The company offers modular plant sizes from 3.5 MWe to 10 MWe in single or twin turbine set-ups. Since 2011, GEG has successfully built and delivered […]

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