Our mission is simple: we develop and operate sustainable power plants together with local communities.
Most people know that deep under Earth’s surface is a molten layer of hot rock. But what many do not know is that this heat could provide us with a long-lasting source of renewable energy.
Unlike wind or solar power, which only work when the wind is blowing or when the sun is out, our geothermal power plants can provide power around the clock. Unlike coal-powered plants, they do not pollute the air with greenhouse gas emissions. And unlike nuclear power plants, they are resilient in the face of disasters. They will be able to provide local communities with a source of renewable energy for a long time to come.
Geothermal energy has historically been difficult to harness and convert into electricity unless it was extremely hot. At Baseload Power Iceland, our binary cycle power plants work by converting lower temperatures of hot water into electricity.
The binary method can be used to harness heat power from newly drilled new wells, or by using existing hot spring wells as energy sources. In addition, after separating the gases in the flash power generation process, the remaining hot water can be used to generate secondary power, otherwise known as bottoming cycle power generation.
We are also working closely with our partners in the oil and gas industry on projects that will generate power using co-produced fluids.
We work closely with local communities, as well as established power companies, and collaboratively identify new or existing geothermal resources. This might involve finding and drilling a new geothermal well in locations where there is a known hot water source. It might mean working to utilize an old well or using the lower-temperature heat at a high-temperature geothermal plant.
Together with local stakeholders, we lease or purchase the site, obtain permits, and establish power agreements. A team of geologists and drilling operators then works to establish a flow of hot water that we can convert heat into electricity.
Baseload Power we have two plants in operation and a third one on the way in Iceland. We also have several land leases secured in the Flúðir and Ölfus municipalities, where we are actively are looking for new opportunities.
We are fast on our way to disrupting the energy sector, working as hard as we can to unleash the planet’s largest renewable energy source and bring about our vision of a planet in balance.
Our power companies evaluate geological conditions, map plant locations and check grid capacity, and establish relationships with key stakeholders.
For final confirmation, the power companies run extensive exploration surveys. Then they sign the land-lease and off-take agreements and obtain local permits.
Local teams manage the actual project development, in parallel with permitting, site preparation, technology procurement, etc.
By offering early-stage capital, equity and/or debt, we can accelerate the development of heat power projects and ensure meaningful returns.
We do extensive research to identify potential new markets, then we investigate and help secure land-lease and power-purchase agreements.
We are experts in the technology required to deploy heat power plants and know what it takes to maximize uptime.
Between the time the hot geothermal fluids are pumped up through the production well and the time they are finally returned to the ground, we can generate clean energy at up to five different stages. That’s why we like to think of our geothermal power plants as complex ecosystems - each one customizable, according to the needs and possibilities of its location. The graphic below shows some of the many possibilities.
