Iceland could see up to 7 new geothermal projects until 2035
Theistareykir construction site, November 2015 (source: video screenshot)
Alexander Richter
8 Aug 2016
Under current scenarios, Iceland could see the development of up to seven new geothermal power projects with a combined capacity of 585 MW, with 45 MW already under construction.
With the ongoing discussions about a possible interconnection between Iceland and the UK/ Europe, there are some uncertainties about the future energy market in Iceland. But, no matter if the cable will be set up or not, it is clear that Iceland is going to add some electricity generation, as highlighted in a recent research piece by Askja Energy Partners in Iceland.
As reported by Icelandic paper Grapevine last month, an interconnection cable between Iceland and the UK would cost around ISK 800 billion ($6.2 billion) and require at least 1,400 MW in power generation capacity dedicated for export through the cable.
The cable would be between 1,000 and 1,500 km long – the longest in the world, and be positioned up to 1,200 meters below the surface of the sea. It would connect Icelandic power plants to the energy market in Europe and possibly provide higher electricity tariffs than from sales to energy intensive industries in Iceland at the moment.
In an overview, Askja Energy Partners provides a good overview on the electricity generation projects that might be built until 2035.
Geothermal energy projects play the major role in the planning until 2035.
There are three projects by the National Power Company (Landsvirkjun) at Theistareykir. There the first state of the Theistareykir I plant is under construction with 45 MW capacity and an additional 45 MW under preparation. Theistareykir II would add 105 MW in capacity when built. Furthermore Landsvirkjun is planning with a 100 MW project at the site of the current small-scale Bjarnaflag geothermal power plant.
Reykjavik Energy/ Our Nature is planning with two projects both in the Hengill area, near its plants of Nesjavellir and Hellisheiðir. The Gráuhnúkur project would be a 40 MW project and the Meitillinn project a 50 MW project.
The only private power company, HS Orka, is planning with two projects of each 100 MW at Sandfell and Sveifluháls, both at Krýsuvík, not far from its current plants at Svartsengi and Reykjanes.
The projects would add 585 MW in geothermal power generation capacity. With an additional 124 MW planned for hydro project the would add a combined 709 MW in power generation capacity, or about half of what would be needed should a cable being planned.
Source: Askja Energy Partners via Twitter
