GEOTHERMAL IS ICELAND’S PLAN B

There is another possible multilateral approach to the Iceland economic issue. This 'third road' doesn't get the exposure it deserves.
Gijs B. Graafland, February 24, 2010 (Planck Foundation)

"…Plan B [to resolve the untenable debt Iceland has incurred to the UK and Holland] is called the 'Energy for Debt' solution. It's about revitalizing…the Icelandic economy [instead of ruining it] by exploring…[Iceland’s] unlimited geothermal energy resources…In Plan B the interests of the debtor and the interests of the creditors will merge into a common interest future plan…

"Plan B in a nutshell: the 'Energy for Debt' option is about building a solid/sustainable geothermal energy harvesting based economy…Iceland will become Europe's main energy supplier…It's an investment plan that…[is] [g]ood for Iceland, good for the UK, good for Holland…The geothermal energy resources of Iceland are huge…[and] relatively easy to explore…Geothermal energy is not a limited/finite energy reserve (like oil/coal/uranium), but it has an unlimited (never ending) capacity, powered by the earth's core. The main benefit of geothermal is that it can provide a continue base load on power nets…"

From schreinervideo via YouTube

"…[International finance must support] Iceland, the UK and Holland by building the energy business case, engineering the geothermal and HVDC technology, engineering the overall finance model, attracting global energy/data players and making the case…For Europe (besides from energy perspectives) the 'Energy For Debt' issue is certainly a better option [than] the current [unwoprkable] repayment text…[E]xtra debt per Icelandic citizen for an economy with not much of an outlook is certainly a heavy weighted issue…

"…[T]he old debt payment plan is not a working plan…[T]aking care of the energy supply for the UK and Holland is certainly an opportunity…Iceland could supply the UK and Holland all the energy it needed generate in a mix of wind and geothermal. Clean, cheap and with no negative geopolitical consequences that are attached to oil. The geothermal energy generation potential [of] Iceland is larger than our imagination…"

All Iceland needs is the hook-up and it can earn its own and a part of the rest of the EU's salvation. (click to enlarge)

"The dutch state owned power infrastructure company Tennet has already done an Iceland/UK/Holland power cable feasibility study. All HVDC cables have build-in fiber cables for datatransport…The recent Eon network in Germany purchase by Tennet is a proof of this strategy. When Desertec (power from the desert) also will be operational, the UK and Holland than will have a head start in international power transmission management…Furthermore: All the datacenters of the world certainly will go 'up north', as cooling requires 'up north' almost no energy…When the cables are redundant Iceland will become beside energy supplier of Europe, also the datacenter location of the world…

"…[Energy for Debt] changes the focus of the discussion to a mutual cooperation…and give Iceland an economic impulse plus energy independence, plus it gives Iceland, the UK and Holland regional (geopolitical risks free) originated (and clean generated) base load energy, that can't deplete…insuring Europe's wealth if fossil energy prices get higher…Iceland can become the Saudi Arabia of the North by exploring its [geothermal resources]…The finance of the 'Energy for Debt' solution can be done both market and governmental driven by [the Planck Foundation’s] Open Finance Model…"