The City of Reykjavík and Reykjavík Energy have received an ISK 160 million ($1.3m/€1.2m) grant from the European Union’s Horizon 2020 Research and Technological Development Programme. The grant is used toward carbon offsetting and energy exchange projects in cities.
Two European cities, Espoo in Finland and Leipzig in Germany, have the role of developing carbon offsetting and energy exchange solutions, while five other European cities, including Reykjavík, test-run the solutions in a variety of environments.
The project focuses on energy exchange in transport, and the development of smart and energy-friendly infrastructure. The project also touches on the transformation of cities through the interaction between authorities, administrations, and stakeholders, while the involvement of the public is another key element. The grant is distributed over a five-year period.