Finding energy at sea instead of land
Oil rigs in the North Sea.
The National Energy Authority has renewed the license of North Tech Energy Ltd. to explore for geothermal energy in research areas near Reykjanes Ridge and off North Iceland. The company’s goal is to find a high-temperature geothermal area to be used for the development of geothermal power plants on platforms at the power plant site, in the same manner as oil rigs in the North Sea and elsewhere. The license is valid for four years.
Mapping the geothermal areas
North Tech Energy held a license to research two areas around the country between 2017 and 2019. Geir Brynjar Hagalínsson, the company’s owner, says that Icelandic Energy Research (ÍSOR) has mapped the geothermal areas based on existing measurement data. “There were some very interesting things coming out of it, for example the amount of movement and heat on the seafloor,” says Hagalínsson.
Needs a lot of preparation
“From the beginning it has been my view that no more hydropower plants need to be built on land as they take a lot of land, rather we should be taking the plants out to sea where they don’t bother anyone. We need the energy for energy transition. The technology has moved forward and we can produce electricity at the same price as the Icelandic power companies,” says Hagalínsson, adding that drilling and power generation needs a lot of preparation, including environmental assessment and permitting processes.
