Iceland is key partner in extensive development project on geothermal energy

12. November 2012

Össur Skarphéðinsson, Minister for Foreign Affairs of Iceland, presented today the most extensive development project Iceland has participated in. It includes the development of a Global Geothermal Development Plan under the auspices of the World Bank, which could amount to 500 million USD. The facility will provide finance for geothermal feasibility assessments and test drilling. The collaboration between Iceland and the World Bank is the largest initiative so far for promoting the utilisation of geothermal energy in developing countries, and Iceland will effectively become the Bank's key partner in this field.

See details: http://www.mfa.is/news-and-publications/nr/7406

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"The Stone Age didn't end because we ran out of stones."
- Sheikh Yamani, former OPEC Oil Minister
Geothermal power is a particularly compelling energy source, as the Earth produces heat at all times, geothermal power can be considered base-load and plants operate with near zero emissions.
"If you want to go fast, go alone. If you want to go far, go together."
- African Proverb
"We tend to forget that we are blessed with two fundamental long lasting sources of energy -- one is the sun, the other is the fire inside the earth. We sit on it, we sleep on it, we walk on it, but we need to harness it. Geothermal..."
- Olafur Grimsson, President of Iceland

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Iceland is key partner in extensive development project on geothermal energy

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