Breaking news: offshore geothermal license issued to North Tech Energy in Iceland
In fantastic news this week, Icelandic company North Tech Energy has been awarded two offshore geothermal research and exploration licenses for two areas, one offshore in the Southwest corner of Iceland and the other off the coast in the North of the country.
In exciting news on Friday, Icelandic energy authority Orkustofnun has issued for the first time an offshore geothermal research and exploration license. These are great news and an achievement of the company behind it. Congratulations to North Tech Energy.
The licenses are issued for two offshore areas on the seabed. One of the license areas is located in the southwest of Reykjanestá (off the tip of the Reykjanes peninsula near the capital of Iceland Reykjavik and likely with similar resource characteristics than the geothermal operations of HS Orka onshore at Reykjanes and Svartsengi. The other license area is the north between Tröllaskaga and Melrakasléttur, between two peninsulas in northern Iceland between the fjords of Eyjafjörður and Skagafjörður.
The purpose of of the license and related work is to gather information if these offshore high-temperature areas can be assessed for energy production. The initial goal is to look for attractive areas for electricity generation, and then take a step further in research work in the second quarter.
The license issued by the National Energy Authority provides North Tech Energy ehf. priority for utilization rights for electricity generation for two years after the formal expiration date of the search license has expired. “These are complete primary studies that are due to start next year,” says Skúli Thoroddsen, lawyer at the Environment Agency, to local paper Morgunbladid, yesterday.
We expect to publish more details and an interview with the CEO of North Tech Energy, Geir Hagalínsson soon. So stay tuned.