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Arctic Green and its JVs form the world's largest and fastest growing geothermal heating & cooling consortium, decarbonizing cities across the world
What we do
We Develop, Invest in, and Operate profitable geothermal and green energy projects
Today we are developing or operating more than 1,000 geothermal projects in over 70 municipalities across Asia and Europe. Our projects range from geothermal heating and cooling to green electricity generation. Our primary resources are geothermal systems, but we also have experience in utilizing waste heat, ground source heat pump and solar energy. Our management systems are AI driven and seamlessly integrate our renewable energy solutions, constantly monitoring and adapting to variations in supply and demand.
Our ANNUAL CO2 SAVING IN 2023
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OUR Co2 SAVINGs SINCE 2006
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Develop - Over 1,000 green energy projects
Arctic Green designs and engineers cutting-edge geothermal projects. With a highly experienced team, we have successfully developed projects across the globe. We oversee every step of the project until operational.
Invest - We actively invest in each of our projects
Our primary focus lies in projects that present expansion opportunities and in geothermal co-generation with other renewable energies.
Operate - Deliver fully operational geothermal projects
Our ultimate aim is to decarbonize cities by delivering fully operational geothermal projects and clean energy systems. We provide our customers with renewable, baseload energy all year round.
News & Views
Saudi Tabreed and Arctic Green Energy Sign Landmark Collaboration to Unlock Saudi Arabia’s Geothermal Potential
Saudi Tabreed and Arctic Green Energy Sign Landmark Collaboration to Unlock Saudi Arabia’s Geothermal Potential February 2025 – Riyadh, Saudi Arabia – In a path-breaking step toward advancing renewable cooling solutions, Saudi Tabreed and Arctic Green Energy have signed a Memorandum of Understanding (MoU) at the PIF Private Sector Forum in Riyadh, marking a major milestone to develop and scale geothermal cooling solutions in the Kingdom of Saudi Arabia. The agreement aims to unlock Saudi Arabia’s vast untapped geothermal resources, leveraging Arctic Green Energy’s global expertise as the leading geothermal knowledge provider and Saudi Tabreed’s position as the Kingdom’s premier district cooling service provider. Together, the two companies will introduce and scale geothermal cooling technology, establishing a clean, cost-efficient alternative to conventional cooling systems that can be commercially replicated across Saudi Arabia and beyond. A Strategic Step for Geothermal Cooling in Saudi Arabia With Saudi Arabia’s Vision 2030 accelerating the transition toward sustainable, low-carbon energy solutions, this collaboration will demonstrate the viability of geothermal cooling as an essential addition to the Kingdom’s clean energy mix. Haukur Hardarson, Founder and Chairman of Arctic Green Energy, emphasized the significance of the agreement, stating: "Saudi Arabia has immense geothermal potential, and this collaboration represents a major step in unlocking that resource for sustainable cooling. Arctic Green Energy has been at the forefront of global geothermal development, and together with Saudi Tabreed’s leadership in district cooling, we are creating a model that will redefine how cities in the Kingdom are cooled—with clean, baseload energy." Suliman Al Khliwi, Managing Director of Saudi Tabreed, added: "Saudi Tabreed, the leading district cooling provider in Saudi Arabia, we are committed to advancing innovative and sustainable solutions that align with the Kingdom’s Vision 2030. This collaboration with Arctic Green Energy marks a significant step toward integrating geothermal cooling into our energy landscape, reducing reliance on conventional cooling methods while enhancing energy efficiency and sustainability." Long-term Growth The signing of this MoU underscores Saudi Tabreed’s commitment to innovation in sustainable cooling solutions and represents a significant new investment opportunity for infrastructure investors and clean energy stakeholders looking to participate in the Kingdom’s energy transition. Through this collaboration, Arctic Green Energy and Saudi Tabreed will develop a roadmap for integrating geothermal cooling into Saudi Arabia’s district cooling networks, supporting the country’s long-term diversification and decarbonization efforts. Further details on project development, feasibility studies, and implementation strategies will be announced as Saudi Tabreed and Arctic Green Energy continue their collaboration to bring large-scale geothermal cooling solutions to the Kingdom. For more information, please contact: chairmansoffice@arcticgreeen.com
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Dr. Marit Brommer joins Arctic Green Energy as Senior Advisor to accelerate international expansion
Dr. Marit Brommer joins Arctic Green Energy as Senior Advisor to accelerate international expansion. Reykjavik – September 23, 2024 Arctic Green Energy, the world’s leading geothermal company, is pleased to announce the appointment of Dr. Marit Brommer, Executive Director of the International Geothermal Association (IGA), as a part-time Advisor. In this new role, Dr. Brommer will help drive Arctic Green Energy’s international growth strategy through project lead generation and project scoping, focusing on accelerating geothermal development in power generation, heating, and cooling. Dr. Brommer brings over two decades of experience in the extractive and geothermal industries. As Executive Director of the IGA, she oversees the management, engagement, and development of a 5,500-member strong global network, coordinating 35 affiliated country members. Her extensive background includes leading R&D for sub-surface projects at Shell, serving as an Exploration and Production Geologist at Total, and consulting at Royal Haskoning in the UK. Dr. Brommer holds a PhD in Reservoir Geology from Delft University of Technology. The appointment comes at a time of significant momentum for Arctic Green, which has developed geothermal heating and cooling projects in over 70 municipalities across Asia, Europe, and the Middle East and continues to expand in new regions. Through its joint ventures, Arctic Green leads the world’s largest geothermal heating and cooling consortium, commanding 40% of the global market share for active deep geothermal wells, including the largest market share in China. Sigurdur Atli Jonsson, CEO, Arctic Green Energy“We are excited to welcome Dr. Brommer to the Arctic Green team. Her vast experience and passion for the geothermal sector will be a game-changer for us as we continue to scale globally. Marit’s insights and leadership will help us unlock continued growth, particularly in our new markets where geothermal stands ready to reshape the energy landscape. With her onboard, Arctic Green is now one step closer to reaching new heights as the world’s foremost geothermal player.” Dr. Marit Brommer“I am thrilled to join Arctic Green as a Senior Advisor on a part-time basis. In this role, I will be offering strategic guidance and insights to support the company’s continued growth and success, with a geographic focus on Asian and Middle Eastern markets which hold enormous untapped potential for geothermal energy to decarbonize cities and enable green grids. While I am excited to begin this new chapter, I will also continue to serve in my current capacity at the IGA, balancing both roles to contribute effectively to both organizations. I am grateful for the opportunity and look forward to collaborating with the talented team at Arctic Green.” This appointment underscores Arctic Green Energy’s commitment to maintaining its leadership in the rapidly growing geothermal sector, as the world increasingly turns to renewable energy to meet decarbonization goals.
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Mongolian Delegation Study Tour on Sustainable Strategies
Reykjavik, Iceland – 20 September 2024 Arctic Green recently participated in a high-profile event at Hotel Reykjavik Natura, where a delegation of 23 Mongolian officials met with Icelandic experts to exchange ideas on sustainable strategies. The full-day conference was divided into two main themes: the first focused on Sustainable Energy and Sustainable Tourism, while the second part addressed Financial Strategies to support these initiatives. Sigurdur Atli Jonsson, CEO of Arctic Green, delivered two keynote speeches, highlighting the export of Icelandic geothermal expertise to China and the successful rollout of international geothermal projects. He emphasized how Arctic Green's experience in China could offer valuable insights for geothermal development in Mongolia. H.E. Olafur Ragnar Grimsson, former President of Iceland (1996-2016) and Chairman of the Arctic Circle, also made significant contributions. The event promoted an open dialogue between Icelandic and Mongolian officials, fostering mutual learning and collaboration, with Mongolian representatives showing strong interest in Iceland's innovative approaches to energy and sustainability challenges. The delegation included key figures from the Office of the President, Ministry of Environment and Climate Change, National Energy Center, and major Mongolian financial institutions. The event also marked the 50th anniversary of Icelandic diplomatic relations with Mongolia.
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Project Spotlight
Xiong'an Geothermal Heating and Cooling
In 2009, Xiong'an city had exceptionally poor air quality due to the city's heavy reliance on fossil fuel power plants. The city's population of 1.1 million suffered.
Between 2009 and 2014 our JV Sinopec Green Energy developed an extensive geothermal district heating system, replacing the old fossil fuel infrastructure. The city is now home to 1.8 million people, with heating capacity of 7.2 million m2. It runs on heat flows from 128 wells and 54 heat centrals. It has a mix of heating, cooling, energy storage, photovoltaic power generation and more applications under development.
Declared "China's first smog free city" and a National Showcase in 2014 by the Chinese National Energy Authority and National Reform and Development Commission.
Inhabitants enjoy a higher quality of life with cleaner air, better health, and cheaper heating energy.
Undergoing transformation to become the Deputy Capital of China.
In 2021, the geothermal utilization in Xiong'an was selected by IRENA as a global showcase in the energy transistion.
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Interesting Articles
Breathing Cities
We use geothermal to transform cities one building, one street, one neighborhood at a time. We replace fossil fuel heat sources (oil and coal) with renewable geothermal heat. As the world has rapidly developed with a heavy reliance on fossil fuels, our cities have suffered and billions have been condemned to live with unhealthy air quality. Geothermal can help change that.
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Heating and Cooling
Heating and cooling cities in the 21st century will determine the outcome of the battles against air pollution and greenhouse emissions. Heating and cooling are major contributors to air pollution, greenhouse emissions and global warming. Over 66% of energy generated globally comes from fossil fuels. Over 45% of all energy generated is for space heating. In cities heated with burning coal more than 50% of the air pollution comes from heating. Geothermal energy is the only renewable source that is base-load, on 24/7, and therefore, ideal for heating. Geothermal heating surpasses coal and gas heating both environmentally and financially
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Arctic in numbers
350 Million m2
Additional Heating Capacity Secured in Pipeline
3 Million +
Customers Served
180+
Patents Secured
70+
Cities and Municipalities Served
10+ GWth
Generated since 2006
5.2 Million Tons
of CO2 Savings in 2023
95 Million M2
Connected Heating Capacity
1,000+
Wells Drilled
15 MWe
Power Generation Capacity in 2023
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