
Elements is a specialist advisory firm in energy and natural resources, rooted in Iceland's pioneering expertise in geothermal energy. We provide full-circle services to geothermal project developers, advise financiers on renewable energy investments, and assist governments and international institutions in building legal and regulatory frameworks for renewable energy. While our core focus is geothermal, we bring deep experience across a range of renewable energy sources and project stages.
Elements provides project developers with comprehensive advisory services across the full geothermal development lifecycle, from early-stage feasibility and resource assessment through drilling, construction, commissioning, and operations. Our work includes regulatory due diligence, structuring and negotiating project agreements, drilling agreements and Power Purchase Agreements and engaging with energy authorities, and providing ongoing legal and commercial support at every stage of the development process. We have worked with some of the leading geothermal development companies operating in markets worldwide.
Elements advises lenders, development finance institutions, and other investors in connection with the financing of renewable energy projects. Our services include legal and regulatory due diligence, risk assessment of project agreements and off-take arrangements, review of concession and licensing frameworks, and advisory support through financial structuring and close. We bring depth in geothermal project finance, where our technical understanding of resource risk and development economics enables us to bridge the gap between legal, commercial, and technical considerations.
Elements works with governments, inter-governmental agencies, and development banks to build the legal and regulatory foundations for sustainable energy development. This includes reviewing and drafting legislation, structuring licensing and concession frameworks, and advising on the governance of geothermal and other renewable energy resources. Elements has carried out this work in multiple jurisdictions, including Iceland, France, Turkey, Djibouti, Kenya, Ethiopia, Bulgaria, Kazakhstan, El Salvador, Honduras, and the Comoros Islands, spanning five continents.
Beyond geothermal, Elements advises public and private sector clients on solar, wind, hydropower, heating and cooling, carbon capture and storage, and clean transportation. We also participate in international research and development initiatives in the renewable energy space.
In cooperation with leading law firms around the world, we have developed the Elements Guide, an overview of geothermal regulatory frameworks across 15 countries, currently being expanded to cover additional renewable energy sources and jurisdictions.
For further information on Elements, please contact any of the team members listed here.

Antoine Lochet
MANAGING PARTNER
DIRECT: +354 550 0513
MOBILE: +33 7 68 23 08 08
EMAIL: antoine@bbafjeldco.is

Baldvin Björn Haraldsson
CHAIRMAN
DIRECT: +354 550 0503
MOBILE: +354 840 0400
EMAIL: baldvin@bbafjeldco.is

Anna Björg Guðjónsdóttir
PARTNER
DIRECT: +354 550 0517
MOBILE: +354 848 1015
EMAIL: anna@bbafjeldco.is

Viktor Örn Ásgeirsson
ASSOCIATE
DIRECT: +354 550 0544
MOBILE: +354 869 0649
EMAIL: viktor@bbafjeldco.is

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