Reykjanes Geothermal Power in Iceland 

Overview 

In the rugged landscapes of Southwest Iceland stands the Reykjanes Geothermal Power, an example of engineering, drawing steam and brine from a reservoir with temperatures soaring between 290 to 320°C. This remarkable feat is made possible by 12 wells, plunging an impressive 2700 meters into the Earth's crust, tapping into its primal heat. What sets Reykjanes apart is its utilization of geothermal steam of unprecedented high temperatures for electrical generation, a groundbreaking achievement that paves the way for future innovations in the field. 

Since its inception, Reykjanes has generated a staggering 789GWh of electricity annually. Construction of the power plant commenced in the summer of 2004, with electricity production kicking off in the spring of 2006 through two 50 MW turbines. However, the project's roots trace back even further, to 1997, when the groundwork for environmental assessment began, culminating in the drilling of the first experimental well in 1998. 

Developed by HS Orka hf in collaboration with Mannvit Engineering, the Reykjanes Geothermal Power Project operates as a single flash type geothermal plant, boasting a formidable capacity of 130 MW.  

Beyond its role as an electricity generator, the Reykjanes Geothermal Power Plant serves as a lifeline for nearby communities, providing hot water for space heating in Reykjavik and Keflavik. Moreover, it opens its doors to curious visitors, offering a glimpse into the fascinating world of geothermal energy through its interactive visitor center. 

 

History 

The roots of geothermal power production in Reykjanes date back to the 1960s when the region witnessed the construction of its first experimental geothermal power plant. However, it wasn't until the 1990s that the vision of establishing a large-scale geothermal power facility on the Reykjanes Peninsula began to take shape. In 2003, Landsvirkjun, Iceland's national power company, embarked on the ambitious project of constructing the Reykjanes Geothermal Power Plant, becoming operational in 2006. 

 

Investments 

The Reykjanes Geothermal Power Plant in Iceland stands as an example of international collaboration and investment in renewable energy infrastructure. Spearheaded by Landsvirkjun, the national power company, and supported by international partners, the project required substantial financing, with a total cost reaching approximately 57 billion Icelandic krónur, equivalent to around $550 million USD. Key financial contributions came from institutions such as the Nordic Investment Bank and the European Investment Bank, providing loans totaling EUR 100 million. Additionally, the project garnered recognition from the United Nations Framework Convention on Climate Change as a Clean Development Mechanism project, allowing it to accrue valuable carbon credits.  

Beyond its financial implications, the Reykjanes Geothermal Power Plant has been an opportunity to the local economy, generating employment opportunities and bolstering revenue streams. Moreover, its role in enhancing Iceland's energy security cannot be overstated, as it continues to supply clean and renewable energy to both residents and industries, reaffirming the nation's commitment to sustainable development. 

 

The expansion 

The expansion of the Reykjanes geothermal power plant boosts the installed production capacity from 100 MW to 130 MW, all achieved without the need for drilling new wells. Through innovative collaboration with Icelandic geothermal experts, HS Orka has harnessed the existing resource more efficiently, propelling Iceland's geothermal power generation capacity to 784 MW.  

Summary

  • Depth of wells: 2700 meters 

  • Electricity generation: 789GWh per year 

  • Production capacity: 130 MW 


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