Alterra Power’s Icelandic subsidiary HS Orka will conduct a 5000-metre deep drilling program at its 100MW Reykjanes geothermal power plant.
The $11.5m project is designed to test for high-energy geothermal resources below the geothermal plant.
Drilling is expected to begin in late summer 2016 and will result in one of the deepest geothermal holes in Iceland, with expected temperatures in excess of 500°C.
If the well is successful, the resulting power will be harnessed and owned by HS Orka, which will operate the drilling project in cooperation with its partners.
The project will be funded by a consortium including Statoil, a €62m grant from the EU, two other Icelandic state-owned power company Landsvirkjun and several other European entities.
HS Orka’s share of the project budget is about $2.3m.
Image: Alterra drilling for geothermal resources in Chile (Alterra Power)
Alterra drills down in Iceland
HS Orka unit part of consortium exploring further geothermal potential
By EBS