Iceland Agrees to Help China Develop its Vast Geothermal Potential

In an effort to tap another renewable energy resource, China, the world's leader in cleantech financing and development, has partnered with Iceland to help developed its vast, but under-developed geothermal energy.

During a recent visit to Iceland, Chinese Premier Wen Jiabao signed an intergovernmental agreement with Iceland's Prime Minister Johanna Sigurdadottir for cooperation in geothermal energy between the two nations.  It has been estimated that China has the potential to install 70-gigawatts of geothermal power by 2050.

While he was in Iceland, Premier Wen visited the Hellisheidi Power Station, the second largest geothermal power plant in the country.  A geologist, Wen also held a seminar with Icleandic geologists and students participating in a United Nations geothermal energy training program.

China's Premier said the agreement with Iceland will see the two countries cooperate to research, develop, utilize, and promote geothermal energy in China.

Icelandic Foreign Minister Ossur Skarphedinsson, who accompanied Wen during his visit, said his country is willing to share its expertise, and that there is a lot that can be achieved in a partnership:  "In terms of population, Iceland is a small country and China is the biggest one.  But, when we come together and join hands, we can certainly make a difference."

Read the full story at China Daily: Wen pledges co-op with Iceland in geothermal energy