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Today, Iceland is producing some 813kt/y of primary aluminium with the lowest carbon footprint in the world. However, the potential growth of this 'green' production is being hampered by politically motivated lobby groups despite the precarious financial debt the country finds itself in following the collapse of major parts of its financial sector.
Iceland is the only country in Western Europe that still has extensive, untapped reso u rces of co m pet it ively pri ced hydroelectric power and geothermal energy. It is the only western country that produces all its electricity from emissionfree, sustainable natural resources. Even its buses run on hydrogen.
Large industrial clients enjoy the best prices available anywhere in Europe or North America. Long-term contracts for 5-1 OMW green power are now available, as well as service level agreements for power delivery services.
Competitively priced electricity has already attracted foreign investors to Iceland in fields such as aluminium and ferrosilicon production. Export-oriented power-intensive industries now consume more than half the country's electricity production.
Power generation
Only one third of Iceland's energy sources have so far been tapped amounting to 1 6 OOOGWh/y out of a projected 50 OOOGWh/y.
Hydro power
The high rain and snow fall, glaciers and the mountainous terrain of Iceland favour the use of hydroelectric installations for the generation of electricity. The potential power available from this source is estimated to be more than 30 OOOGWh/y. In 201 0, the installed capacity in 28 power plants was 1 500MW. The largest single hydropower plant has a capacity of 690 M W
Geothermal power
Icelanders are world leaders in the use of geothermal energy for domestic and industrial purposes. Geothermal steam at pressures of up to 20bar and at 250°C is produced at a price that is generally less than half that of the cost of heating with oil or electricity, thus contributing to making Iceland one of the cleanest environments in Europe. Geothermal steam has been used directly for a number of horticultural and industrial processing applications in Iceland for decades now. It is now being developed for electricity generation on a growing scale. Today, the total installed geothermal electric power is around 422MW, and a further anticipated expansion of 6OMW will lift the total to...