Additional Heating Capacity Secured in Pipeline

In 2023

Since 2006

Arctic Green Energy to participate in World Geothermal Congress in Beijing, China, 15-17 September.

Arctic Green Energy is thrilled to announce its participation in the upcoming World Geothermal Congress, which is set to take place in Beijing, China from September 15th to 17th, 2023. This prestigious event, held once every three years, serves as a vital platform for industry leaders and decision-makers to come together, collaborate, and devise innovative solutions for a sustainable future.

Without green energy transition in heating and cooling the world will not reach net zero goals. Arctic Green Energy is steadfast in its commitment to showcase how harnessing geothermal for heating and cooling can fundamentally reshape cities, turning them from suffering to breathable living environments.

“We are immensely excited about the prospect of attending this event, and we express our sincere gratitude for the honor of serving as a primary sponsor for this momentous occasion. As a global leader specializing in geothermal heating and cooling solutions, we cannot wait to share the story of our JV in China, Sinopec Green Energy, which has proven that geothermal works on a massive scale. It is a perfect example of how geothermal heating and cooling provides a key solution in the global energy transition,” said Sigurdur Atli Jonson, CEO of Arctic Green Energy.

Geothermal Energy Used for Heating and Cooling - Interview with Arctic Green Energy’s CEO, Sigurdur Atli Jonsson

Icelandic newspaper Morgunbladid had an interview with Sigurður Atli Jónsson, the Chief Executive Officer of Arctic Green Energy. In this article, he shared Arctic Green Energy's remarkable growth in China and future projects. Arctic Green Energy's history traces back to 2002, when China's President Jiang Zemin expressed great interest in Iceland's geothermal resources. This led to the founding of Sinopec Green Energy, jointly owned by Icelandic and Chinese parties.


Arctic Green Energy has made significant strides in China, drilling over 900 boreholes and completing more than 1000 geothermal projects, providing heating for around 90 million square meters and having the rights to heat around 400 million square meters. The efforts will save approximately 5.2 million tons of carbon dioxide emissions in 2023 , making it Iceland's most significant contribution to climate change.


Despite geothermal energy being an underutilized resource worldwide, Arctic Green Energy is determined to present it as a viable solution for heating and cooling needs, with about 70% of the world's population requiring cooling. Arctic Green Energy has experienced substantial growth, increasing by about 30% annually in revenues and operations, primarily focusing on Southeast Asia, the Middle East, and Eastern Europe. While most operations are international, Arctic Green Energy values its roots in Iceland. Arctic Green Energy's success is rooted in Icelandic geothermal expertise and aims to maintain the knowledge center in the country. Sigurdur Atli´s involvement with Arctic Green began through project financing and advisory servicer. Sigurdur Atli joined the board of the company before becoming the CEO of Arctic Green in 2022.

Source Morgunbladid, reporter Thorlakur Einarsson

Arctic Green Energy acquires Mannvit in Budapest

Kopavogur, June 15, 2023 – Arctic Green Energy has announced the acquisition of Mannvit Kft in Hungary, a subsidiary of Mannvit hf. The company, headquartered in Budapest, is the leading consulting and services firm for geothermal projects in Hungary and neighboring countries in Central Europe, as well as an experienced engineering company in building and infrastructure projects. The company employs about 20 professionals in the fields of geothermal energy and construction engineering. Mannvit Kft was founded in 2007, and its employees have extensive experience and knowledge in the development and implementation of geothermal projects in both the heating and electrical energy sectors. There is a great demand for heat energy from renewable sources to meet the heating needs in Europe, as burning fossil fuels with associated greenhouse gas emissions is the most common method for heating buildings.

Therefore, the utilization of geothermal energy in Central Europe is experiencing significant growth, as there are favorable conditions for the utilization of geothermal energy in the region both for direct use and electricity production. Geothermal energy is a clean, renewable resource, and its utilization contributes to energy security.

Arctic Green Energy, which owns and operates the world’s largest geothermal district heating system, has been involved in development projects in Budapest and elsewhere in Europe in recent years. The company will operate Mannvit Kft in Hungary as an independent consulting firm. Gabor Molnar is the managing director of Mannvit Kft in Hungary and will continue to lead the company.

“Geothermal energy has been proven its feasibility in the recent years, thanks to the increasing demand for green energy supply by securely available, local energy sources. It has a booming market nowadays in Hungary, as well as in CE Europe and Worldwide. Mannvit Kft, being experienced in all aspects of geothermal projects, can successfully participate in geothermal developments all around the Globe, support its various Clients in Hungary and in the international market, and assist developments by our geoscience and engineering services. We are excited to join forces with the Arctic Green Energy group, opening enormous opportunities to further increase our activities, gain more experiences and help communities to reduce pollution and achieve their climate protection goals.” said Gábor Molnár, managing director of Mannvit Kft, Hungsary.

“Energy transition in the heating and cooling sectors is the biggest solution to achieve success in greenhouse gas reduction. Geothermal energy is an important part of that solution, as we have demonstrated in about 800 geothermal projects that we and our portfolio companies are operating and developing. We have already started working on several such projects in Central Europe and have benefited from the outstanding consultancy services of Mannvit Kft. in Budapest. We are therefore extremely pleased to strengthen our relationship with them in this way,” said Sigurður Atli Jónsson, CEO of Arctic Green Energy.

) is a leading company in renewable energy. It specializes in solutions based on geothermal energy for heating, cooling, and electricity production. The company is expanding its operations by integrating geothermal energy with other renewable energy sources and has participated in university-level education to train new generations of geothermal experts. The company operates globally, including in Asia and Europe. Arctic Green Energy has its roots in Iceland’s internationally recognized geothermal expertise and operates knowledge centers there.

Sigurdur Atli Jonsson, CEO of Arctic Green Energy

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.

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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 m

. 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 transistions.

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In 2021, the geothermal utilization in Xiong'an was selected by IRENA as a global showcase in the energy transistion.