Arctic Green Energy Corporation was founded with the mission of exporting the Icelandic success and leadership in geothermal and other renewables to countries around the globe. Established in 2011 as Orka Energy (re-branded as Arctic Green Energy Corporation in 2015), the company has grown into a market leader in Asia, owning and operating the world’s largest geothermal district heating company in China in cooperation with Sinopec.
Sinopec Green Energy Geothermal Development Co., Ltd. (SGE) was founded in 2006 in the field of geothermal district heating and has since expanded into other green energy utilization techniques. It is a Sino-Foreign Joint Venture were Arctic Green Energy holds a 49% stake against Sinopec´s 51%. Since the first projects were established in Xianyang City of Shaanxi Province the company has expanded its operations into Hebei, Shandong and Jiangsu provinces.
Geothermal energy is under our feet in the form of high pressure high temperature hot water and steam that has been heated up by the earth’s core. Some of this super-heated water rises back to the surface of the earth where it emerges as hot springs or even geysers. Sometimes the hot water becomes trapped below the surface as a geothermal reservoir. It is a clean, green sustainable energy source and scientists estimate the earth’s total geothermal resources to amount to 50,000 times the energy content of all the world’s fossil fuels