Bolaalda, Iceland
About This Project
Project Size: 100 MWe, 133 MWth
The Bolaalda Project is part of Iceland’s National Plan for Land Protection and Energy Development (“Energy Master Plan” or Rammaáætlun). Its classification under the Utilization category allows for the development of power plants for energy generation. The project promises substantial social and economic benefits for the region.
Reykjavík Geothermal, as the owner and developer of the Bolaalda Project, has been driving its progress since acquiring the reconnaissance license in 2018, covering a 65 km² development area. The project aims to harness the area’s high-temperature geothermal resources to construct a geothermal power plant with a planned output of up to 100 MWe in electric capacity and 133 MWth in thermal capacity.
The total investment for the Bolaalda Project is projected to range between $400 million and $450 million (approximately 60 billion ISK).
Once operational, the Bolaalda Project will play a vital role in establishing the region as a hub for green industry in Iceland, contributing to its growing reputation for sustainable energy solutions.
Project Updates
National Plan for Land Protection & Energy: Bolaalda
Early February 2020, the Bolaalda project was approved by the Icelandic National Energy Authority (Orkustofnun) and sent to the steering committee of the National Plan for Land Protection and Energy Development (verndar- og orkunýtingaráætlun, rammaáæltun) –...
Indicative findings from MT resistivity studies in Bolaalda, Iceland
Reykjavík Geothermal's team of geoscientists carried out MT (magnetotelluric) measurements of the Bolaalda area in Ölfus, Iceland, in late 2020. Tentative findings indicate a high temperature reservoir in Bolaalda that is located deeper than in the adjacent areas of...
Bolaalda – Reconnaissance License
In December 2018, Reykjavik Geothermal obtained a reconnaissance license from Orkustofnun (the National Energy Authority in Iceland), to undertake surface exploration activities in and around the Bolaalda area in the Ölfus municipality in south-western Iceland, about...
