Iceland supported new WB report on feasibility studies for geothermal projects


Posted On: August 13, 2021

Iceland supported new WB report on feasibility studies for geothermal projects

Icelandic geothermal experts prepared a report for the World Bank’s Energy Fund under the direction of Elín Hallgrímsdóttir, a geothermal expert at the Energy Sector Management Assistance Program (ESMAP).

The World Bank’s Energy Fund, ESMAP, recently published a report on best practices in feasibility studies for geothermal power plants, which was prepared by Icelandic geothermal experts. The report contains guidelines for conducting feasibility studies for geothermal power plants and arose from the work of Icelandic experts in the preparation of the World Bank’s geothermal project in El Salvador.

ESMAP staff, under the direction of geothermal expert Elín Hallgrímsdóttir, led the report, which was prepared by a team of Icelandic experts from the Icelandic Ministry for Foreign Affairs’ list of advisers in the field of geothermal energy. In recent years, the Ministry for Foreign Affairs has maintained a list of advisers on the basis of a declaration of co-operation with ESMAP. Sustainable utilization of natural resources is a focus area in Icelandic development cooperation, and Iceland’s development contribution is provided, among other things, through technical assistance in these areas. 

ESMAP supports the development of renewable energy projects in developing countries, which the Bank and other parties will finance later if successful. ESMAP is also a knowledge center on renewable energy, but Iceland has been financing the position of geothermal expert at ESMAP for several years.

The report was authored by: Hallgrimsdottir, Elin; De Wit, Joerie Frederik; Fridriksson, Thrainn; Ingimundarson, Ari; Axelsson, Gudni; Steingrimsson, Benedikt; Ingason, Ingi; Arnason, Olafur

Report: Preparing Feasibility Studies for the Financing of Geothermal Projects : An Overview of Best Practices (English). Washington, D.C. : World Bank Group.

Source: World Bank – ESMAP

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