|WHEB invests in Oslo-based Green Energy Group|
| [06.09.2011, 11:02am, Tue. GMT]|
|European clean tech private equity fund WHEB Partners has made an investment in Green Energy Group (GEG), an Oslo-based supplier of small-scale, containerised geothermal power plants. Geothermal power generation is currently approaching 11GW globally, yet the immediately addressable worldwide geothermal capacity is estimated at 140GW.Founded in 2008, the company is seeking to meet the continuing demand for cheaper and more flexible geothermal power generation solutions with its proprietary offering of modular, mobile power plants, which can be placed at the well-heads of particular geothermal resources.|
The company is currently completing its first full-scale pilot power plant in the Kenyan Rift Valley and states that it has a significant pipeline of future projects.
“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.
Furthermore, GEG’s management team is truly world-class, bringing together years of experience in successful and fast growing companies,” he added.