“WHEB was attracted to GEG because we see enormous potential for the acceleration of demand for geothermal power, particularly in the developing world,” said James McNaught-Davis, a managing partner at WHEB.
“GEG provides a solution which will enable developers, utilities and independent power producers to accelerate the rate at which they deliver power online in new developments, increase the output of existing geothermal fields and develop small-scale power plants for distributed renewable power generation in remote areas,” he continued. “Furthermore, GEG’s management team is truly world-class, bringing together years of experience in successful and fast growing companies.”
The deal represents WHEB’s first investment in Norway.
Founded in 2008, GEG is seeking to meet the continuing demand for cheaper and more flexible geothermal power generation solutions with a proprietary offering of modular, mobile power plants, which can be placed at the well-heads of particular geothermal resources.
The founders of the Oslo (Norway)-based company believe they’ve found key to lowering the cost-per-megawatt of geothermal energy through their KAPS system.
With it, they say, as soon as the customer has steam data from their wells, GEG can tell exactly how much MW power online it can produce for the client.
From there, the company says, it optimises the blades of the turbines specifically for every well to maximize power output. “Due to our ISO 9001 certified mass production in Bangalore, India we have managed to provide the entire solution very cost effective for our clients,” its website says. “We are delivering finished commissioned power plants as well as training our customers in all of the operational elements within one year. “We deliver preventive maintenance- and control- systems with open API enabling the client to always have full overview of production and status. We also provide our own online surveillance services of all our units. Due to standardization spare parts are also kept in regional storage with our local representation,” GEG says.
GEG is currently completing its first full-scale pilot power plant in the Kenyan Rift Valley.
According to WHEB Partners, geothermal power generation is currently approaching 11 GW globally, yet the immediately addressable worldwide geothermal capacity is estimated at 140 GW.
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