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Service Providers

A number of parties provide the core operations of the geothermal cluster with various consultancy services, for example in relation to geosciences,
drilling, well design, choice of materials, engineering and technical consulting, audits, legal services, it services, media and production etc.

Enclosed service providers are members of the Iceland Geothermal Cluster Inititiative:

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.


Arion Bank is a strongly capitalized bank which provides universal banking services to corporations and individuals

  • Prime emphasis on corporations and individuals seeking a variety of financial solutions
  • Focus on building and strengthening long-term customer relationships by delivering excellent service and tailored solutions
  • Operations in the Greater Reykjavík area as well as the largest urban areas around the country
  • Contributes to a positive development of the economy and society
  • A leading position within the domestic financial market in regards to return on equity, operational efficiency and service offerings


BBA was the first law firm in Iceland to build its practice exclusively on servicing the business sector. This is and has always been our main focus.

As a result, BBA has in recent years been leading in the field of mergers and acquisitions, capital markets, banking and corporate finance, bankruptcy law, PFI projects and general corporate and commercial law on the Icelandic market. This is confirmed by the firm’s top tier ranking in the respective fields by all the major ranking companies.

Due to our level of expertise and good reputation we have been entrusted by our local and international clients to provide advice on many of Iceland’s biggest and most complicated financing and M&A deals, as well as the country's most important PFI projects.

EFLA is a general engineering and consulting company based in Iceland with international activities and consultancy around the globe.  EFLA comprises highly qualified and experienced professionals operating in a wide variety of fields whose common goal is to provide clients with the highest possible level of services and solutions, no matter the nature or scope of the project involved.

As an acknowledged leader in its field, EFLA places strong emphasis on innovation, cooperation and courage, and regards its employees as its most valuable resource.

EFLA offers services in 6 marketing divisions — Energy, Industry, Buildings, Transportation, Environment and Project Management — which together are comprised of 25 service divisions, each with its own designated core activities. These are supported by the company’s Business Development, Research and Innovation and Personnel Divisions.

EFLA affiliated companies are in Norway, Sweden, France, Poland, Turkey and Dubai.


Iceland Drilling Ltd. is a leading high technical company in the field of high temperature geothermal drilling and has many decades of experience in both high and low temperature drilling. The company possesses a fleet of new hydraulic rigs and modern drilling equipment that can be transferred swiftly from one part of the world to another.

Iceland Drilling operates internationally and with the record of drilling several hundreds of geothermal wells, the company has well-grounded expertise in international drilling.

Íslandsbanki and its predecessors have accumulated extensive knowledge and experience when it comes to renewable energy. The bank‘s platform is built on the Icelandic history of successfully harnessing both geothermal and hydro power. To ensure exceptional service to the bank‘s clients, a specific Energy Group has been formed. The Energy Group consists of high level people with significant experience both in energy and banking. Furthermore, the bank has actively published a variety of reports both about the domestic energy market as well as selected foreign energy markets.

Iceland GeoSurvey was established 2003, when the GeoScience Division of Orkustofnun, the National Energy Authority of Iceland, was spun off as a separate entity. It is based on seven decades of continuous experience in the field of geothermal and hydropower research and development. During this period Iceland GeoSurvey have provided consulting, training, and scientific services to the Icelandic power industry and the Icelandic government, and to numerous foreign companies and governments all over the world. Although our focus is on geothermal exploration, development, and utilization, our experience covers many other geoscience-related fields as well, including groundwater studies, marine geology, and environmental monitoring.

Iceland GeoSurvey is committed to:

  • being in the forefront of geoscientific research, development, and service
  • finding ways to enhance and augment geothermal resources
  • enhancing the environment and contributing to the debate on environmental issues
  • actively promoting geothermal development by increasing public and political awareness and understanding
  • training scientists throughout the world in geothermal science and development
  • participating in international geothermal development projects


KPMG firms are some of the world’s leading providers of audit, tax and advisory services. They operate in 156 countries and have more than 152,000 people in all member firms around the world. KPMG Iceland has published its report on the international geothermal sector “World Geothermal Market and Outlook” which offers a comprehensive look at the current state of the sector, its future outlook and the key drivers for new investment.


Landsbankinn's strategy rests on four main pillars, all of equal importance. These pillars consist of a unified team, referring to the bank's human resources and employees' positive attitude; a solid infrastructure referring to procedures, financial strength, risk management and operational discipline; satisfied customers

referring to the bank's customer services and the mutual benefit of a long-term business relationship, and last but not least benefit to society and owners, which refers to the role Landsbankinn has in society.


LEX is one of Iceland´s leading law firms, providing clients with comprehensive services over a wide range of financial, corporate and commercial issues, as well as most other aspects of Icelandic law.

LEX aims to be the Icelandic legal firm of choice for our clients and address their needs in the ever-changing local and international markets.

LEX is one of Iceland’s largest law firms comprised of 45 lawyers. Over the past decades, LEX has successfully acted on behalf of a large number of internationally respected corporations, organisations and private individuals both in Iceland and abroad.

LEX has provided legal services to clients that include major local and international banks, financial institutions, merchants and ship owners, in addition to a large number of municipalities, government institutions, insurance companies, manufacturers, businesses, media outlets, utilities and private individuals.

LEX is a member of World Services Group, a global network of providers of business services and Energy Law Group (ELG), which is made up of lawyers with specialist expertise in the energy and natural resources sectors and all belonging to independent European North African and Middle Eastern law firms.


Mannvit is an international consultancy firm in the fields of engineering, technical services and innovation. The firm employs a dynamic team of experienced engineers and technically trained employees with diverse experience in most disciplines relating to engineering services. Mannvit provides reliable and professional consultancy services based on a half century of knowledge and experience across a wide variety of projects and industries.

We provide services in the fields of engineering, geoscience, environmental studies, IT and construction material research. We also offer complete project management and EPCM services. Our services are divided into three core fields: renewable energy & transmission; industry and oil & gas and infrastructure.


Reykjavik Geothermal Limited is a geothermal development company focused on the development of high enthalpy geothermal resources for utility scale power production. RG specifically identifies and targets locations where quality geothermal resources can be efficiently harnessed to meet the local demand for power and clean dependable energy.

RG was founded in Iceland by a proven team of experienced geothermal experts. RG management has been responsible for projects in over 30 countries including spearheading the development of one of the world’s largest geothermal power plants in Hellisheidi, Iceland.

The Company’s technical capability has been matched by an in-house group of expert and experienced multinational finance professionals. This team ensures the company’s ability to navigate the complications of geothermal development and power plant finance.

These capabilities make RG the preferred entity for the development of geothermal resources anywhere around the world.


Geothermal energy is available anytime, anywhere. Selected "hot spots" allow addition of heat recovery and the production of electricity. The greater the depth the higher the temperature - but also the drilling and investors risks.

NW Assekura accompanied with consulting services and insurance coverage drilling companies and investors from the initial idea to the power plant operation. The special risk situation of geothermal projects supported by specially developed for this segment insurance solutions invoice. NW Assekura offers insurance solutions in particular for:

  • Drilling rigs and their equipment
  • Projects in preparation and during the drilling operation
  • Power plant construction and operation

Áhættulausnir is NW Assekura representative within Iceland Geothermal. Pleas constant Sveinn Segatta for more information.


TBL architects is an umbrella company of three leading Icelandic design firms, two in architecture and one in the field of landscape architecture. With a pooling capacity of over 70 designers and technicians and combined design experience of hundreds of projects, TBL is uniquely capable of taking on the most demanding of projects.


At Verkís, more than 320 staff work on a wide range of projects, both in Iceland and abroad. Verkís provides professional service of the highest quality which is competitive with the best available in the world.   Verkís operates according to accredited quality, environmental management, and health and safety management systems (ISO 9001, ISO 14001 & OHSAS 18001).  Sveinn Ingi Ólafsson is company CEO.

For more than 45 years, Verkís has been successfully involved in all development stages of geothermal utilization projects in Iceland and worldwide, in countries such as China, Slovak Republic, Turkey, El Salvador, France and Hungary.

Verkís has the expertise to meet all of a client's needs, from the project-concept stage to the completion of an investment project.

  • Project preparation and planning
  • Building design, including power plants, transport structures, residential housing, industrial buildings, and service facilities
  • Design of all special systems required in structures
  • Project management, both during design stage and at the construction site
  • Project supervision
  • Safety, environmental, and health consultancy.

VSO Consulting has an extensive experience in consulting service regarding geothermal construction and utilization. The main emphases of the service is on Environmental and social impact assessment, operating licenses, master plan and regional planning, project supervision and HSE consultancy, both for operating facilities and the construction phase. 

Founded in 1958, VSO Consulting is one of the largest engineering companies in Iceland. VSO Consulting provides its customers with comprehensive engineering and management consulting with the goals of ensuring them the most efficient solutions for each task that produce tangible results for them and an edge in their field.