Borehole in North Iceland Proves Powerful

geothermal-borehole-sw_psThe magma borehole by Vítismór near Krafla in northeast Iceland is one of the most powerful boreholes in Iceland and could produce up to 27 megawatts of electricity. For comparison, the most powerful boreholes in southwest Iceland produce around 15 megawatts.

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Germans Made Lowest Offer for Icelandic Plant

thjorsa_psThe German company Voith Hydro made the lowest offer for the construction of the planned Búdarhálsvirkjun hydropower plant in Thjórsá river in the southern highlands. The company plans to construct the power plant for ISK 6.27 billion (USD 56 million, EUR 41 million).

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Finance Minister: Budget Bill in Line with Forecast

steingrimurj-althingi-280910_pkMinister of Finance Steingrímur J. Sigfússon said when he presented the 2011 budget bill at parliament yesterday that considering the economic uncertainty there isn’t much divergence from the most recent economic forecasts for next year and the economic forecast of Statistics Iceland which was published in June and the budget bill is based on.

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