The Icelandic National Energy Authority has granted Scotland-based company North Tech Energy a license to locate and research geothermal energy on the seabed around Iceland. The company’s CEO says it could become one of the biggest energy projects ever embarked upon in Iceland.
North Tech Energy ehf. has been granted permits for geothermal research on the sea floor in two locations: one on the Reykjanes Ridge, and the other off North Iceland.
CEO Geir Brynjar Hagalínsson told Vísir that the project started out in Aberdeen in 2009, after he attended a respected professor’s lecture on energy matters in the UK.
The goal of the research is to find out if the underwater geothermal areas can be used for energy production.