If anyone knows about geothermal, it's Iceland. They're the only country in the world that runs on 99% renewable power, and 30% of that comes from geothermal (the rest from hydroelectric).
Glitnir has already made a few investments, but the bank is estimating that investments necessary to service current projects are around $9 billion, and that the overall need for investment to fully capitalize on the trend is roughly $40 billion. There's no doubt that geothermal has a huge part to play in the future, and it looks like Iceland is getting an early foot into the door.
written by Frank, September 26, 2007
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