Geothermal park and energy transition in focus at COP31

Árni Hrannar Haraldsson, CEO of ON Power (Or, participated in the United Nations Climate Change Conference, COP31, currently taking place in Antalya, Turkey. His agenda included discussions on circular solutions and the energy transition in transportation, dialogues with innovators in climate solutions, and meetings with representatives of Nordic financial institutions and companies in the energy and technology sectors.

The conference provided an opportunity to share ON's experience and discuss how knowledge, innovation, and collaboration can support the energy transition and increase value creation. Iceland's experience in utilizing renewable energy sources and developing infrastructure is widely relevant, while international cooperation can open new opportunities at home.

Geothermal Park as an example of circular utilization

Árni Hrannar participated in a roundtable discussion organized by Nordic Innovation in the Nordic Pavilion entitled "Barriers to scaling circular solutions: key learnings from the Nordic countries." There, he discussed ON's Geothermal Park and the opportunities inherent in the multiple use of geothermal energy, where companies can base their operations on access to renewable electricity, heat, and other resource streams at the Hellisheiði Power Plant. This creates opportunities to utilize the resource better and increase the value it generates.

The discussions revolved around how to move circular solutions from development and pilot projects into commercial operations and increase their reach internationally. Particular focus was placed on financing, knowledge, collaboration, market access, and regulatory barriers.

The roundtable brought together representatives of companies, investors, and Nordic institutions. The goal was to analyze how closer cooperation among the Nordic nations could remove obstacles and to identify the next steps to accelerate the implementation of circular solutions.

Nordic experience of energy transition

A panel discussion entitled "Nordic Experience, Global Impact. Accelerating EV Transition," which addressed the Nordic experience of energy transition in transportation, was also on Árni Hrannar's agenda.

Joining him on the panel were Fredrik Nilzén, Head of Sustainability at Scania, and Henrik Tegnér, Head of Strategy and Business Development at AFRY. Mikkel Becker-Aakervik, Co-founder and CEO of Thought Leader, moderated the discussion.

Participating in the panel gave Árni Hrannar the opportunity to share ON Power's experience in supporting the energy transition in transport through the development and operation of charging infrastructure.

Innovators and financing of climate solutions

Árni Hrannar also participated in events by Actions House and Goals House, international platforms related to sustainability, climate action, and global goals. He additionally attended a joint event held by the Nordic Investment Bank, Nefco – the Nordic Green Bank, and the Nordic Development Fund. Furthermore, he held meetings with representatives of these institutions as well as entities such as Nordic Energy, Green Power Denmark, Outokumpu, and COWI.

Discussions of this kind serve as an important forum to strengthen relationships, exchange knowledge, and explore collaboration opportunities. For ON, they tie into ongoing work on responsible resource utilization, innovation, and the development of solutions that generate value from renewable energy.

"At ON, we have experience with how the utilization of renewable energy and infrastructure development can support the energy transition and create value for society. COP31 offered a great opportunity to share that experience and learn from others. The conversations also underline the importance of collaboration between companies, innovators, and financiers to turn good ideas into reality. There we see exciting opportunities, including in the multiple utilization of geothermal energy and the continued development of the Geothermal Park," said Árni Hrannar following his participation at COP31.