Reykjavik Energy is the world’s leading authority in the utilization of geothermal energy. We have consolidated our leadership over the past 60 years by supplying a large portion of the Icelandic population with geothermal water for domestic heating and by gradually developing new steam fields for power production. Over the past twenty years Iceland has brought more than 400 MW of electrical capacity, on line from geothermal power plants. Nowhere in the world has there been such a recent development leaving Icelandic experts with knowledge and experience that can be rated as unique worldwide. 

Reykjavik Energy Invest hf (REI) is Reykjavik Energy’s international development arm. REI puts emphasis on using the experience, geothermal knowledge and technology, gained in Iceland with finance from reliable partners to develop potential project worldwide.

The topic of energy is hardly brought up today without being associated with environmental issues. Comparison of projected increases in global energy use and environmental goals portrays an immense gap. This gap provides the geothermal energy opportunity.

Energy from geothermal sources today amounts to less than 0.1% of the global world use. The mission of Reykjavik Energy Invest ehf. is to capture Reykjavik Energy’s proven geothermal experience to increase the use of geothermal energy globally.

Human capital

The human capital of Reykjavik Energy is our most important asset. Our staff is made up of about 100 engineers and geologists. Many of our engineers and geologists are leading scientists in the geothermal field, publishing papers in valued scientific publications and conducting research on geothermal sites all over the world.

 

Trade	Number
Engineers/Designers	55
Engineers/Mechanics	37
Geologists	5
Technologists	31
Tradesmen/Electricians	130

Projects

REI owns equity in several sustainable energy projects. We work closely with the management teams of our projects and facilitate transfer of information and expertise between the companies. We manage our projects with our focus on long term goals and sustainable growth. Key projects are: 

Company	Acquired	Description
Enex Kína ehf (Enex China ehf)	2002	A joint venture of several parties including a Chinese corporation. Enex China ehf is building a significant district heating system in a large city in central China.
Galantaterm Ltd	1995	A district heating system operator in the city of Galanta in Slovakia.
Iceland America Energy, Inc.	2007	A geothermal energy exploitation and development company focusing on opportunities in the United States.
Metan Ltd.	2007	Markets and distributes energy in the form of raw gas (landfill gas) and upgraded methane. Metan Ltd. is a member of the European Natural Gas Vehicle Association (ENGVA).
Envent	2007	Envent was established in 2007 to develop geothermal projects in the Asia-Pacific region. The company is working on several geothermal projects in the region with emphasis on Indonesia and the Philippines.
Djibouti	2007	The project is to build a 50 MW geothermal power plant in the Assal Rift concession area in Djibouti. REI has completed the Pre-Feasibility study and the project is now in Feasibility stage. If exploration of the geothermal resources proves successful, it is expected that a first stage power plant will be operational in 2014.

Power Plants

Reykjavik Energy operates two geothermal sites that are exclusively owned by Reykjavik Energy and holds equity in two other fields. Reykjavik Energy owns the rights to develop several other fields in Iceland. The Hellisheidi geothermal facility currently produces 213 MW of electricity but plans call for growth to 300 MW electric and 400 MW thermal in the next 10 years, thereby becoming the world’s largest geothermal power plant.

Location	Installed Capacity MW	Notes
Nesjavellir	420	Combined heat and power. 120 MWe and 300 MWt. Four 30 MWe, single flash, condensing turbines. Brine is used to bring the preheated water to an acceptable temperature level in heat exchangers . Hot water is transported approximately 30 km to the city of Reykjavík at a temperature loss of 1.5°C. Commissioned in various stages beginning in 1990.
Hellisheidi	213	Combined heat and power. Electricity generation 213 MWe. The thermal part of the plan is still under construction. Four 45 MWe high pressure turbines and one 33 MWe low pressure turbines. Ongoing construction with proposed capacity of 300 MWe and 400 MWt.