Sinopec Green Energy

What Sinopec Green Energy does

Sinopec Green Energy Geothermal Development Co., Ltd. (中石化绿源地热能开发有限公司) is a Sino-foreign joint venture between Sinopec Group (via Sinopec Xinxing Petroleum) and Iceland's Arctic Green Energy, established in 2006/2009 and headquartered in Xiong County within the Xiong'an New Area, Hebei Province, China. The company is China's largest medium-to-deep geothermal district heating operator, deploying proprietary indirect heat exchange and complete water reinjection ('heat extraction without water consumption') technology across wells typically 1,500–2,500 meters deep. Its 'Xiongxian Model' government-enterprise cooperation framework has been elevated into the 'Xiong'an Model' and replicated across northern China.

Name

Sinopec Green Energy

Legal name

中石化绿源地热能开发有限公司

Website

https://sgeg.sinopec.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Geothermal District Heating Services

NAICS

Steam and Air-Conditioning Supply (221330), Power Boiler and Heat Exchanger Manufacturing (33241), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)

SIC

Steam & Air-Conditioning Supply (4961), Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures (3430), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Geothermal Direct Use Heat Projects (District Heating, Greenhouses, Aquaculture, Industrial Heat) (EUAMAEAG)

akta.pro secondary industries

Geothermal Equipment & Component Manufacturing (Turbines, Heat Exchangers, Pumps, ORC Units) (EUAMAEAI), Geothermal Power Plant EPC & Construction (Surface Facilities, Balance of Plant) (EUAMAEAE), Geothermal Power Generation Operations & Maintenance (Plant O&M, Performance Optimization) (EUAMAEAF), Geothermal Drilling & Well Construction (Production/Injection, Directional, Well Services) (EUAMAEAB)

Keywords

• Geothermal heating services
• District heating solutions
• Clean energy heating
• Geothermal resource development
• Renewable heating systems

Headquarters

HQ city

Baoding

HQ country

China

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Geothermal Heating Services: The company generates revenue through providing geothermal heating services to residential, commercial, and industrial customers. Fees are charged based on heating area served, with contracts typically managed through government partnerships and direct service agreements with property management companies and end-users.
2. Engineering and Construction Services: Design, construction, and installation of geothermal heating systems for new developments and retrofit projects.
3. Equipment Manufacturing and Sales: Production and sale of proprietary geothermal equipment including reinjection devices, separators, and monitoring systems through Beijing subsidiary.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Sinopec Green Energy develops and operates medium-to-deep geothermal district heating systems across northern China. The company extracts heat from geothermal wells at depths of 1,500–2,500 meters, uses indirect heat exchange and complete water reinjection (取热不耗水) to deliver clean heating to residential, commercial, industrial, and agricultural customers. It also designs and constructs geothermal heating infrastructure and manufactures proprietary geothermal equipment through its Beijing subsidiary.

Product overview

Sinopec Green Energy (中石化绿源地热能开发有限公司) operates as a geothermal energy development and heating services company with a platform-plus-subsidiaries architecture. The core offering is geothermal district heating using 'extraction without water consumption' technology across northern China. The portfolio includes eight regional subsidiaries (Hebei, Shaanxi, Shandong, Shanxi, Beijing, Tianjin, Lvquan, Qingdao) providing heating, cooling, industrial steam, and carbon asset management services. The Beijing subsidiary handles equipment manufacturing with proprietary patents, while the Shaanxi subsidiary has created the 'Xiongxian Model' for demonstration projects. The company integrates geothermal with solar, waste heat, and air source solutions under a 'Geothermal+' strategy, serving over 60 cities with approximately 80 million square meters of heating capacity.

Differentiator

Problem solved

Functional benefit

Brands

• 雄县模式 (Xiong County Model): The pioneering geothermal district heating model created by Sinopec Green Energy in Xiong County, featuring government-enterprise cooperation, market-based operations, unified development, advanced technology, environmental protection, and public benefit. The model was upgraded to the 'Xiong'an Model' after the establishment of the Xiong'an New Area.
• 雄安模式 (Xiong'an Model)
• 无烟城 (Smoke-Free City)

Products and services

• Geothermal District Heating Services Clean geothermal heating services delivered to residential, commercial, industrial, and agricultural end-users through owned and operated heating stations across northern China. Heating is provided at stable temperatures of 20-24°C, with fees charged per square meter served.
• Engineering and Construction Services

Quantifiable outcome

• Annual coal substitution of nearly 2 million tons standard coal per heating season
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

16 partnerships are on record, tiered core, major and minor.

• Arctic Green Energy (冰岛极地绿色能源)coreStrategic or Co-development PartnerIcelandic joint venture partner contributing advanced geothermal technology and expertise. The partnership has significantly contributed to reducing CO2 emissions and expanding geothermal technology in China, serving millions across China. Arctic Green Energy is a shareholder website reference, indicating ongoing strategic cooperation.
• Sinopec New Star Petroleum (中国石化新星石油)coreStrategic or Co-development PartnerParent company and shareholder website reference. Sinopec New Star Petroleum is the parent organization overseeing Sinopec Green Energy's operations and strategic development within the Sinopec group.
• Arctic Green Energy - Sinopec Green Energy PartnershipcoreStrategic or Co-development PartnerStrategic partnership between Arctic Green Energy and Sinopec Green Energy that has significantly contributed to reducing CO2 emissions and expanding geothermal technology, serving millions of residents across China with clean heating.
• Xi'an Petroleum University (西安石油大学)majorStrategic or Co-development PartnerJoint establishment of 'Four Subjects One Joint' Geothermal Research Center with Xi'an Petroleum University for technology research and talent development.
• Shaanxi Gas Group (延长石油陕西燃气集团公司)majorStrategic or Co-development PartnerInvestment cooperation agreement signed for geothermal development in Shaanxi Province, combining gas infrastructure with geothermal heating.
• China Communications Construction雄安公司 (中交雄安公司)majorStrategic or Co-development PartnerStrategic cooperation agreement for clean energy development in Xiong'an New Area, leveraging infrastructure development capabilities.
• Jiangsu Hehai New Energy Company (江苏河海新能源公司)minorStrategic or Co-development PartnerStrategic cooperation agreement for technology and project collaboration in renewable energy sector.
• Tianjin Shengxin Thermal Group (天津晟鑫热力集团)majorStrategic or Co-development Partner'Geothermal + Waste Heat' cooperation agreement for combined heating solutions in Tianjin region.
• Dong'e County Government and Liaocheng Changrun Group (东阿县政府、聊城昌润集团)majorStrategic or Co-development PartnerTrilateral strategic cooperation for geothermal development in Dong'e County, Shandong Province.
• Jiantou Hebei Thermal Company (建投河北热力有限公司)majorStrategic or Co-development PartnerStrategic cooperation framework agreement for thermal energy services in Hebei Province.
• Laoling City Investment Company (乐陵城投公司)minorStrategic or Co-development PartnerStrategic cooperation agreement for clean energy heating project development in Laoling City.
• Xi'an Thermal Power Company (西安热电有限责任公司)majorStrategic or Co-development PartnerGeothermal energy heating cooperation agreement to replace traditional gas heating with geothermal energy at thermal power facilities.
• Qingdao Energy Group (青岛能源集团有限公司)majorStrategic or Co-development PartnerJoint venture partner in Qingdao subsidiary with 46% ownership, providing local market access and operational support.
• Qingdao Kangze Energy Company (青岛康泽能源有限公司)minorStrategic or Co-development PartnerJoint venture partner in Qingdao subsidiary with 3% ownership.
• Tianjin Ninghe Construction Investment Group (天津市宁河区兴宁建设投资集团有限公司)majorStrategic or Co-development PartnerJoint venture partner in Tianjin subsidiary with 49% ownership, providing local government partnership and market access.
• Hebei Mingquan Company (河北名泉公司)minorStrategic or Co-development PartnerLvquan subsidiary shareholder with 30% ownership, contributing to geothermal development in Bazhou region.

Scale indicators14 records

Recent moves4 records

Expansion highlights6 records

Others

• Mannvit Engineering: Icelandic engineering consultancy specializing in geothermal resource assessment, drilling, and plant design. Comparable as a technology and engineering peer providing consulting and design services to geothermal operators worldwide, including technology transfer pathways relevant to Sinopec Green Energy.

Broad incumbents

• Ormat Technologies: US-listed vertically integrated geothermal equipment manufacturer and IPP with binary-cycle power plant expertise. Comparable on the equipment manufacturing side (re-injection pumps, heat exchangers, binary units) and on geothermal operations, though focused on electricity generation rather than district heating.
• China Energy Conservation and Environmental Protection Group (CECEP): Chinese central SOE focused on energy conservation, environmental protection, and renewable energy including geothermal heating projects. Comparable as a Chinese state-owned clean-energy heating operator competing for similar municipal heating transition contracts in northern China.
• Calpine Corporation: Largest US geothermal electricity producer and major IPP, recently acquired by Energy Capital Partners. Comparable as a large-scale geothermal asset operator with reinjection expertise, though focused on power generation rather than direct-use heating.
• Beijing Enterprises Holdings: Hong Kong-listed utility and waste-to-energy operator with Chinese district heating interests. Comparable as a publicly-traded Chinese operator with municipal-level heating concessions and diversified clean energy assets competing for similar government district heating partnerships.
• Sinopec Star Petroleum (parent): Parent company and majority shareholder of Sinopec Green Energy, China's largest oil refiner and petrochemical producer under SASAC. Comparable as the controlling stakeholder for capital allocation, technology licensing, and access to government relationships in the broader Chinese energy market.
• Reykjavik Energy (Orka Veitna): Iceland's largest district heating utility, providing geothermal-based heating, electricity, and cold water to the Reykjavik capital area. Comparable as an established utility-scale geothermal district heating operator with similar resource utilization philosophy that informed the Arctic Green Energy technology transfer to Sinopec Green Energy.

Regional players

• KenGen (Kenya Electricity Generating Company): Kenyan state-owned geothermal power producer operating the Olkaria geothermal field with reinjection technology. Comparable as a state-backed geothermal utility developing medium-deep resources in a country prioritizing clean baseload energy, but operating in Africa rather than China.

Direct peers

• Enwave Energy Corporation: Canadian district energy company operating deep-lake water cooling and steam-based district heating in Toronto, Atlanta, and other cities. Directly comparable as a regulated-tariff district heating utility using subsurface/water-based heat exchange for commercial and residential customers in cold climates.
• Arctic Green Energy: Icelandic geothermal development company and Sinopec Green Energy's JV partner. Directly comparable as a global district heating operator using medium-deep geothermal resources with complete reinjection technology, sharing the same technology stack and serving as a strategic shareholder in Sinopec Green Energy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/shaanxi-green-energy-geothermal-development-co.ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries9 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sinopec Green Energy