Statoil (Norway) is studying opportunities for importing geothermal electricity from Iceland. The group recently signed a letter of intent with Norwegian grid operator Statnett and Iceland’s Landsvirkjun on producing a feasibility study for a 600-MW power station by next spring. Geothermal heat from 1000–2000 metres below ground will be brought to the surface to drive turbines, which in turn run electricity generators. A station would be able to generate about 5 terawatt-hours per year, which corresponds to 4%–5% of Norway’s annual hydropower output. If the plans are implemented, the required submarine power cable will be 1200km long – but the energy loss over this distance is only about 6%.
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