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Iceland: Plans for a 200 MW geoth. power plant in the North

Alexander Richter Alexander Richter 20 Feb 2009

The company Theistareykir (Þeistareykir ehf.) is planning to build a 200 MW geothermal power plant at Theistareykir in the North of Iceland, so Icelandic Morgunblaðið.

The company Theistareykir (Þeistareykir ehf.) is planning to build a 200 MW geothermal power plant at Theistareykir in the North of Iceland, so Icelandic Morgunblaðið. The high heat geothermal power plant is supposed to provide electricity for the aluminum smelter at Bakka at Húsavík or for other potential electricity offtakers.

The project will go through an environmental and social due-diligence process survey, which is supposed to close on 6 March 2009.

The geothermal field at Theistareykir is one of the three largest geothermal fields in the North-East of Iceland. The company Theistareykja was founded in April 1999. The founding companies were the local muncipality and the local utility. In the fall of 2005 the Icelandic National Power company (Landsvirkjun) bought a 32% stake in the company.

Theistareykja is the project company having the exploration license on the field and has entered into agreements with landowners on exploration and usage rights. The Icelandic engineering firm Mannvit is the consulting partner on the environmental assessment.

Source: Morgunbladid (in Icelandic)