Arctic Green Energy Corporation founding mission was to export the Icelandic success and leadership in geothermal and other renewables to the emerging markets of Asia through building up local companies.
The largest company in our portfolio is Sinopec Green Energy (www.sinopecge.com), a JV with China’s Sinopec that was established in 2006. Sinopec Green Energy has become the world’s largest geothermal district heating company with 700 employees, having built over 500 heat centrals across 60 cities/counties in China and drilled 587 wells. Today the company is generating 4.1 GWth and 15 MWe. Most of the company’s activities are in Hebei, Shaanxi, Shandong and Tianjin and other areas are currently being added.
To date, Sinopec Green Energy has saved 8 million tons of CO2 emissions. Sinopec Green Energy is expanding to other branches of geothermal such as power production and co-generation with other green energies such as solar and wind. SGE was the first geothermal heating company to be accepted into the UN Clean Development Mechanism (carbon trading scheme).
Among Arctic Green Energy’s past projects is the development of a 50MW geothermal power plant in Biliran province in the Philippines which the company has already exited. A new venture is being launched in Vietnam in collaboration with a strong local company.
Apart from extensive geothermal operations, our current portfolio now also includes waste heat utilization- and energy efficiency projects based on the EMC model.
Arctic Green Energy has maintained close cooperation with Icelandic geothermal consulting companies such as Iceland Geosurvey (ISOR), Icelandic Drilling, VERKIS and Mannvit.
Profitability is a key element in building green energy companies. Arctic Green Energy has shown that its ventures in Asia are profitable while at the same time offering its customers green energy at lower prices than the fossil fuel driven competition – without any subsidies.
Arctic Green Energy is a proud member of the Icelandic Geothermal Cluster and the United Nations Global Compact. Our vision of building a leading profitable green energy companies is based on our core values of a cleaner and healthier world, sustainability and social responsibility.
Through close collaboration with our key partners, we build up local companies within our target markets. Arctic Green Energy is the leading exporter of the Icelandic success and leadership in geothermal to markets around the globe.
We operate the world´s largest geothermal district heating company – Sinopec Green Energy – in cooperation with Sinopec Group. Linking the Icelandic leadership in geothermal and clean tech with China´s huge market and green energy potential, the company is growing at a fast pace towards an IPO.
A new venture was recently launched in Vietnam and our geographical focus has been expanded to include markets in Central Asia and Europe.
Past projects include a 50 megawatt power development in the Philippines.