Bolaalda - Reconnaissance License

RG was founded in Iceland by a proven team of experienced geothermal experts. RG management has been directly responsible for projects in over 30 countries

Bolaalda - Reconnaissance License

RG Reconnaissance License Area
RG Reconnaissance License Area

In December 2018, Reykjavik Geothermal obtained a reconnaissance license from Orkustofnun (the National Energy Authority in Iceland), to undertake surface exploration activities in and around the Bolaalda area in the Ölfus municipality in south-western Iceland, about a 25-minute drive from Reykjavik. The reconnaissance area covers 65 km2.

The project aim is to harness this potential high-temperature area to build a geothermal power plant with installed electric capacity of up to 100 MWe, and thermal capacity as the market may require.

The following table shows the main parameters for the planned/anticipated Bolaalda geothermal power plant.

Main parameters

Unit

Installed electric capacity

100

MWe

Thermal capacity depending on demand

0-100

MWth

Electric power

814.7

GWh/year

Utilization time

8.147

Hours/year

Size of utilization area

10-20

km2


An Environmental and Social Impact Assessment (ESIA) resulting in an Environmental Permit is not required for the reconnaissance license which gives the right to undertake surface exploration activities without assessment of the environmental impact and that are intended to assess geological, geochemical and geophysical characteristics for the purpose of determining if the land or area may have geothermal resources.

The reconnaissance license will be renewed in late 2021 based on first results from resistivity studies.


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