Shaanxi Green Energy Geothermal Development Co. Ltd. is a Sino Icelandic Joint Venture established at the end of 2006.  Shaanxi Green Energy shareholders are China Petroleum & Chemical Corporation and Enex China. Registered capital of the JV is 100 million RMB.

 

By combining in depth knowledge of the geothermal resource in the area around Xianyang city and yearlong experience of geothermal district systems Shaanxi Greeen Energy’s main focus will be to build and develop a state of the art geothermal heating system in Xianyang.  The development of this system will not only maximize the utilization of the geothermal resource but at same time take fully into consideration sustainable development of the resource.

 

Xianyang city was officially named “the first geothermal city” of China in 2006. It is therefore very appropriate that the owners of Shaanxi Green Energy chose Xianyang as the location of its first project. The development of Xianyang’s vast geothermal resources will therefore benefit the people of Xianyang for years to come and play a significant role in improving environmental condition and increase living standards of the people in Xianyang.

 

Shaanxi Green Energy has received continuous support from the Chinese and the Icelandic Government, which consider development of geothermal energy main focus of cooperation between the two countries, as well as from Xianyang city government and Reykjavik city government.

 

Since its establishment in late 2006 Shaanxi Green Energy has already set up a district heating network providing heating to 1.2 million sqm. of housing.