News

Positive reception to potential geothermal power export to UK

Northern Lights in Iceland (source: flickr/ totalpodcastroph
Francisco Rojas 30 May 2014

The project to build a cable between Iceland and the UK is a hot topic. There is great potential to further develop renewable energy for electricity generation in Iceland that could be targeted at Europe.

The Icelandic government is still studying alongside with Landsvirkjun, a local electricity supplier how to move forward in this particular area. The current estimated cost is around $2.7 billion USD in order to lay out the nearly 1,200 kilometre cable that separates Iceland from the UK.

According to the news source, “The more we look at this project, the more positive feedback we get,” said Hordur Arnarson, chief executive officer of Landsvirkjun, which produces more than 70 percent of Iceland’s power. “Over the past two years we’ve moved closer to this project becoming a reality,” he said in an interview in Reykjavik on May 21.

This project is in part driven by the belief that most of the energy generation capabilities of Iceland are mostly underdeveloped and have  significant room for growth, according to the latest government estimates. The two main sources of electricity in Iceland are geothermal and hydropower. Iceland seeks to diversify its economy and Europe is looking to add more renewables to its portfolio for sustainable future growth.

The article finally states that “The conditions are in place for Iceland to produce 30 to 35 terawatt hours, should that be the decision of the authorities,” said Arnarson. “Producing that much energy would still protect a great deal of areas that we want to preserve.”

Source: Renewable Energy World Website