International cooperation
International agreements
Iceland has entered into many bilateral agreements and Memoranda of Understanding (MoUs) regarding renewable energy, geothermal, and related projects in recent years. In some cases, the National Energy Authority has made such agreements on behalf of Iceland, and these agreements are valid for various durations. The purpose of such agreements is to enhance and facilitate cooperation between Iceland and the respective countries, as there is often a desire for Iceland's assistance in developing projects related to geothermal energy, district heating, and renewable energy.
Bilateral agreements and cooperation declarations
World Energy Council
Iceland is a member of the World Energy Council (WEC) and has been actively involved in its Icelandic chapter in recent years. The activities have varied, but they have been strengthened in recent years. Orkustofnun, the National Energy Authority of Iceland, has overseen the operations, and individual energy companies in Iceland have been participants in the effort. The activities include information dissemination from WEC to member companies, participation in international analyses and reports related to Iceland and the energy market, meetings, and more. Iceland is also a participant in the World Energy Issue Monitor, with this year's focus being on energy and changing dynamics in the energy market (humanising energy), which is characterized by numerous challenges, particularly in climate-related matters, requiring new solutions. Additionally, Iceland contributes to the World Energy Trilemma Index report.
Competitiveness of the Icelandic Energy Market in 2022
One of the reports and comparisons in which Iceland participates is the World Energy Issue Monitor 2022, which examines the main challenges in the field of energy in individual countries and continents. This marked Iceland's fifth participation in the survey. The processing of the report relies on digital responses from energy market stakeholders in individual countries, directed to the London office of the WEC. The results of the report can be found on the WEC website.
The objective of GEOTHERMICA is to enhance research and innovation in the field of geothermal energy. Simultaneously, it aims to make geothermal energy a reliable, safe, and cost-effective choice. GEOTHERMICA brings together funding and expertise from 20 owners and managers of geothermal research and innovation programs from 16 countries.
The Geothermal ERA-NET initiative has now transformed into GEOTHERMICA.
