Ice­land Scene of Ma­jor Global Geo­ther­mal Scale-up Plan

Southern Innovator - - RECYCLING -

The World Bank an­nounced in March 2013 in Reyk­javík, Ice­land, a ma­jor in­ter­na­tional ef­fort to ex­pand re­new­able power gen­er­a­tion in de­vel­op­ing coun­tries by tap­ping an un­der­uti­lized re­source: geo­ther­mal energy.

World Bank Man­ag­ing Di­rec­tor Sri Mulyani In­drawati called on donors, mul­ti­lat­eral banks, gov­ern­ments and the pri­vate sec­tor to join a Global Geo­ther­mal De­vel­op­ment Plan (GGDP) to bet­ter man­age and re­duce risks of ex­ploratory drilling to bring what is now a mar­ginal re­new­able energy source into the main­stream and de­liver power to mil­lions.

“Geo­ther­mal energy could be a triple win for de­vel­op­ing coun­tries: clean, re­li­able, lo­cally pro­duced power. And once it is up and run­ning, it is cheap and vir­tu­ally end­less,” said Sri Mulyani In­drawati.

Sri Mulyani launched the plan at the Ice­land Geo­ther­mal Con­fer­ence in Reyk­javík. Al­ready, the World Bank and Ice­land are work­ing to­gether un­der a “Geo­ther­mal Com­pact” to sup­port sur­face ex­plo­ration stud­ies and tech­ni­cal as­sis­tance for coun­tries where Africa’s Rift Val­ley is lo­cated.

Many de­vel­op­ing world re­gions are rich in geo­ther­mal re­sources, in­clud­ing East Africa, South­east Asia, Cen­tral Amer­ica, and the An­dean re­gion. At least 40 coun­tries have enough geo­ther­mal po­ten­tial to meet a sig­nif­i­cant pro­por­tion of their elec­tric­ity de­mand.

Ice­land is an is­land and a Euro­pean coun­try in the North At­lantic 1,474 kilo­me­tres to the West of Nor­way on the con­ti­nent of Europe. It has sub­stan­tial geo­ther­mal re­sources.

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