Iceland firm keen to tap Karkar volcano

National, Normal

The National, Thursday 10th November 2011

A GEOTHERMAL investor from Iceland has shown interest in developing a 100 megawatt geothermal power plant on Karkar Island, Madang.
Reykjavik Geothermal (RG) representatives visited the island last week and concluded that it had a good thermal resource.
They plan to return in January to present a report of their findings to the provincial government.
The presentation will also include information on the project proposal as well as seek the support of the Madang provincial government to approve a framework with the developer on an engagement strategy.
RG said it intended to work closely with the local level government on the project.
With the ongoing electricity outages being experienced in the province, RG hoped that the Karkar caldera, which according to studies undertaken by RG, could be a sustainable power source for the province.
It said in a statement that “Karkar had a good thermal resource”.
Geothermal power is both reliable base load powers, non polluting, renewable and cost competitive compared with other power sources.
RG said that its vision was to work with local partners to harness this resource, develop utility-scale geothermal power plants, and provide an inexpensive, clean and indigenous energy source for the benefit of local economies, while providing attractive returns for investors.
“RG is committed to passing geothermal expertise on to local entities, a transition that would include training and education of local experts and cooperation with regional institutions and local contractors and consultants.”