|UK could get geothermal energy from Iceland
UK Energy Minister Charles Hendry and Icelandic Minister of Finance Oddný Harđardóttir have signed a memorandum of understanding pledging to explore geothermal energy in the UK.
Iceland satisfies 87% of its space and water heating needs through geothermal energy whereas geothermal is in its infancy in the UK.
The deal will lead the countries to explore developing the geothermal sector in the UK through district heating networks and even supplying electricity from Icelandic geothermal resources to the UK through underwater cables. They will also share information on offshore oil and gas opportunities.
Hendry said, “Today’s agreement will help pave the way for a closer relationship with Iceland, which I hope can yield significant benefits for the UK, including the development of geothermal power, greater use of interconnectors to transport energy under the sea, and developing oil and gas resources.
"This sort of approach can both enhance our energy security and deliver low carbon electricity in an affordable way."
In addition the agreement covers developing geothermal in East Africa through the countries’ respective International Development Departments.
The UK is being prudent in seeking to increasingly diversify its energy portfolio while achieving carbon emissions targets and keeping costs down. This is the latest step but the future progress of the geothermal part of this agreement will depend on other developments in the UK’s energy mix as they directly affect the its need, rather than desire, to diversify.