Iceland sits on one of the world's greatest geothermal hot spots and a recent discovery of underground lava has increased the amount of geothermal energy the county could be harnessing. Iceland already gets 81 percent of its electricity from the renewable resource and expects to be fully powered by renewable energy by 2050. With most of its energy needs met, it wants to share with the rest of Europe.
Iceland's biggest utility company, Landsvirkjun, has announced a plan to build the world's longest undersea cable at 1,180 miles long to carry up to five billion kWh of electricity a year to European countries -- enough to power 1.25 million homes. That much energy would be worth several hundred million dollars.
Such a cable will not be cheap to build, but in the long run, Iceland would have a really nice source of revenue and Europe would have an abundant source of clean energy.
via Fast Company
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MAR 09
"Bravo to Iceland. Even after allowing 5 of its banks to fail and havin..."
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