Geothermal Isn't Expensive: The Reservoir Always Has the Final Say Somewhere beneath a volcanic ridge, a drill bit is turning through rock that has not moved in two million years. It costs money every second it turns. And nobody on the surface — not the engineer, not the financier, not the minister who announced the megawatts — knows yet whether that well will produce steam or silence. That single moment explains almost everything people get wrong about geothermal energy. Geothermal is routinely described as expensive, slow, capital-hungry and haunted by drilling risk. Investors are reminded that tens of millions can disappear underground before a single megawatt reaches a grid. All of that is true. But it is not the whole truth. The uncomfortable question the industry keeps avoiding is this: is geothermal expensive, or is the way we develop geothermal making it expensive? Those are two completely different problems. One is geology. The other is us. Why Geothermal Refuses to Be...
Cowi to Spearhead 100MW Geothermal Power Plant Expansion in Iceland: A Leap Toward Renewable Innovation By: Robert Buluma In a major stride toward sustainable energy development, Cowi , a leading engineering firm, has secured the design contract for the expansion of the Hellisheidi Geothermal Power Plant in Iceland. This ambitious project, driven by ON Power , will see the plant's capacity increase by 100MW, further solidifying Iceland's commitment to harnessing its geothermal potential. The Hellisheidi plant, located just 18km from Reykjavik, serves as a cornerstone for Iceland's energy landscape, providing both electricity and hot water for domestic heating. With the ongoing expansion, the plant’s heating output will rise from 200MW to 300MW, ensuring more homes and businesses in Reykjavik benefit from geothermal energy. A Legacy of Excellence Cowi's involvement in the Hellisheidi project dates back to its early phases, when the firm, formerly known as Mannvit ...