On February 21st, GEG ehf (hereinafter referred to as “GEG”) and Kaishan Group Co., Ltd. (hereinafter referred to as “Kaishan”) have signed a framework agreement at Shanghai Kaishan Research Institute for cooperation in the development, design, construction, operation, and financing of geothermal projects owned by GEG in whole or in part. Kaishan Company and its related parties will be the preferred partners and suppliers to provide the above services. The scope of cooperation between both parties includes GEG’s geothermal power projects in South America and Africa, including but not limited to Chile, East Africa, and participating countries of the Global (Geothermal) Risk Mitigation Fund.

GEG is a geothermal development and consulting company headquartered in Iceland. As a pioneer in the concept of “turnkey” wellhead power stations, GEG has been constructing 15 wellhead power stations (81MW) in the Olkaria geothermal field in Kenya and a backpressure power station in Iceland since 2012. Between 2011 and 2020, it contributed over 1.7% of the global new geothermal installed capacity. Kaishan is a complete set of geothermal power generation equipment supplier with independent intellectual property rights and engaged in core manufacturing of steam screw expansion generator, ORC screw expansion generator and ORC turbine expansion generator. The progressiveness of Kaishan’s technology and equipment has been recognized by the geothermal community in recent years.

GEG and Kaishan are committed to providing customers with high energy efficiency, cost-effective, and short delivery cycle geothermal development system solutions.

GEG and Kaishan are committed to providing customers with high energy efficiency, cost-effective, and short delivery cycle geothermal development system solutions.