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) – for assessment in terms of land protection or energy development.
The reconnaissance license for the Bolaalda project in Iceland was obtained in 2018, and covers 65 km2. The project aim is to harness this potential high-temperature area to build a geothermal power plant with installed electric capacity of up to 100 MWe, and thermal capacity as the market may require.
