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The greatest opportunity for geothermal energy in the future
A new cooperation agreement for the next phase of the IDDP (Iceland Deep Drilling Project) deep drilling project marks an important step toward better utilization of the resources residing in Iceland's geothermal areas. The aim is to drill the project's third deep drilling well at Nesjavellir at the end of the year with the purpose of finding supercritical geothermal energy, a resource that could completely change the future utilization of geothermal energy.
Reykjavík Engergy, parent company of ON Power (Orka náttúrunnar), leads this third phase of the project in cooperation with the Ministry of the Environment, Energy and Climate, Landsvirkjun, and HS Orka. According to Hera Grímsdóttir, Director of Research and Innovation at Reykjavík Energy, IDDP-3 is a key step in Reykjavík Energy´s deep drilling journey and part of a larger vision to open a new chapter in the utilization of geothermal energy.
“The project is not just about a single borehole, but about developing the technology and knowledge required to harness supercritical geothermal energy in the coming years. With strong cooperation with the government and other energy companies, we can accelerate this journey and strengthen Iceland's position as a leading global force in sustainable energy solutions. This is a challenging project, but also one of the greatest opportunities for geothermal energy in the future,” Hera said at the signing of the cooperation agreement earlier this month. See more details in Reykjavík Energy's news.
Tremendously important for ON
For ON Power, IDDP-3 is particularly important. ON's geothermal power plants in the Hengill area are among society's most valuable infrastructure and the foundation for both electricity production and hot water production for a large part of the capital area. With ongoing development and increased knowledge of the deeper and hotter parts of the geothermal system, real opportunities are created to generate more power from the same area and utilize the resource better.
“For ON Power, this could mean increased electricity production without having to enlarge the production area, less need to drill new wells, and greater flexibility in the utilization of the resource. This would increase the operational security of the Nesjavellir and Hellisheiði power plants and thus the long-term energy security of society,” says Árni Hrannar Haraldsson, Managing Director of ON.
Geothermal energy is the foundation of quality of life
Even though the technical challenges of the project are significant, the potential benefits are even greater. Two previous IDDP test wells have yielded important knowledge and brought the Icelandic geothermal sector closer to being able to utilize supercritical geothermal energy, where temperatures exceed 350–400°C.
The objective of drilling the third well, at Nesjavellir, is to test new technical solutions and explore how supercritical geothermal energy can be utilized safely and economically in the future.
Árni Hrannar mentions that the project is particularly important at a time when demand for renewable energy is growing and society calls for both increased supply and responsible utilization of natural resources.
“For decades, geothermal energy has been one of the most important foundations of quality of life in Iceland. To ensure this continues, we must constantly enhance knowledge, renew infrastructure, and look further into the future. IDDP-3 is part of that journey, and we are proud of Reykjavík Energy for leading the project,” he says.
If IDDP-3 is successful, it could not only possibly enable ON to increase its production capacity but also strengthen Iceland's position as a leading nation in the sustainable utilization of geothermal energy and create new opportunities for value creation for society as a whole.
