GEG KE Ltd. is the Kenyan subsidiary of Icelandic GEG ehf.
GEG is a supplier of modular geothermal power plants, delivered on a turn-key basis. The company was founded in Iceland in 2019 on a market opportunity for complete and modular turn-key geothermal development approach through a joint venture with international partners.
In 2020 GEG ehf., acquired 100% share in GEG Canada Iceland ltd. from Energy Co-Invest Global Corporation, which then became GEG ehf., the largest shareholder at the same time.
In 2018, Energy Co-Invest acquired from the UK administration certain assets of Green Energy Geothermal UK Limited and Green Energy Geothermal International Limited that had gone into administration in 2018. Those assets then became a part of GEG ehf. in 2020.
With the new strategy adopted in 2019, GEG currently has projects in development and a project pipeline in Africa, Europe, Asia, and South America.
The history of Green Energy Geothermal International ltd., a part of GEG ehf. since 2020, extends to the year 2008.
Entrusted by Kenya Electricity Generating Company (KenGen), Green Energy Geothermal International ltd. built a 5 MW wellhead plant in Olkaria, Kenya, as our pilot plant in 2012 — effectively proving the wellhead geothermal power generation concept. With the success of that installation, KenGen contracted the company to develop an additional 14 plants in Olkaria, with 81MW power generation.
Between 2012 to 2017, Green Energy Geothermal International ltd. and KenGen brought these geothermal power plants online. These plants currently deliver over 10% of Kenya (and 9% of Africa’s) installed geothermal power generation capacity.
With an additional plant built for Landsvirkjun, Iceland’s national power company, companies acquired by GEG ehf. in 2020 have now contributed 86 MW in installed geothermal power generation capacity.
This represents over 1.7% of the global installed new geothermal capacity between 2011 and 2020.
GEG and its acquired assets currently deliver turn-key flash type modular geothermal wellhead power plants sizing from 3.5 MWe to 11 MWe per unit. The plants reduce capital expenses and project risk and allow for quicker payback on investment. They can be scaled through several modules for larger scale development or expansions. The highly experienced executive team at GEG have assembled a team commanding a wealth of experience within the design, engineering, project management, and operation of geothermal plants and is supported by a Board of Directors drawn from both investment banking and engineering sectors.
GEG ehf. is headquartered in Reykjavik, Iceland, along with the core technical and R&D team. Our company works closely with selected suppliers and contractors on different modules enabling GEG to provide turn-key geothermal power plants in a rapid scale-up. We also work together with local contractors in regards to site preparation and installation in the countries in which we operate. We maintain a strong commitment to ensuring that our activities contribute positively to society and the environment.
Our Strategy
- Build + develop geothermal wellhead plants through the delivery of complete units ready for operation for the client
- Provide a flexible power plant solution with high-scalability + quick payback on investment
- Continue to lower the capital intensity of geothermal power development
- Offer flexible solutions adapted to local environments + customer needs
- Drive the technological progress in the industry