Ölfus, Iceland

About This Project

Project Size: 9.8 MWe, 49.5 MWth 

The Ölfus Project is a part of Reykjavík Geothermal’s project portfolio and is a geothermal initiative in partnership with the Ölfus municipality. The project is designed to generate 9.8 MW of electricity and 49.5 MW of thermal energy. 

Planned for the same region as the Bolaalda Project, the Ölfus Project is set to commence following Bolaalda’s completion, further strengthening the area’s role as a hub for renewable energy. 

Expanding Research for Sustainable Energy 

Reykjavík Geothermal (RG) has been granted an exploration permit to conduct further research on potential high-temperature geothermal resources south of its existing research area south of Bolaalda. 

Initial research findings of Bolaalda area indicate geothermal potential in the southwestern part of the area while also suggesting a higher likelihood of significant heat sources further south.  

Based on these results, RG intends to follow up on its research findings by expanding its exploration area southward. The objective is to assess the viability of harnessing geothermal energy in this newly proposed area. 

As part of this initiative, RG is planning the development of a geothermal power plant within the expanded research zone. The project will initially focus on a small-scale power plant with a capacity of up to 10 MW. However, depending on further exploration results and feasibility studies, the potential exists for scaling up the facility to a larger power plant following an Environmental Impact Assessment and licencing process.