Iceland's Minister for the Environment, Energy and Climate, Guðlaugur Þór Þórðarson, and Italy's Ambassador to Norway and Iceland, Stefano Nicoletti - delegated by the Italian Minister for the Environment and Energy Security, Gilberto Pichetto Fratin - signed a Memorandum of Understanding on cooperation in the field of geothermal energy between Italy and Iceland today in Reykjavik. The signing ceremony took place at the headquarters of the Icelandic Ministry of the Environment, on the sidelines of the Annual Meeting of the Arctic Circle, the main forum for international dialogue and cooperation on the future of the Arctic.
The result of lengthy negotiations between the two countries' Ministries of the Environment and Energy, the memorandum aims to establish and intensify cooperation between Italian and Icelandic entities active in the geothermal energy sector, including public institutions, the private sector, and research and development bodies in the energy field. Areas of cooperation include, among others, the exploration and utilisation of geothermal resources for electricity production and heat transfer, district heating, and activities related to the development and operation of geothermal power plants.
According to Ambassador Nicoletti, "the agreement establishes the legal framework for Italy and Iceland, the two main European players in the geothermal sector, to start a structured collaboration that will leverage the long tradition and the high level of expertise matured by the two countries in this field. Iceland, from this point of view, represents the ideal partner for a country at the forefront of geothermal energy such as Italy. This is by virtue of the immense resources concealed in the Icelandic subsoil, which contribute 60% to production for domestic primary energy consumption and 30% to domestic electricity generation, and participation in various research initiatives at a European and non-European level. Iceland's high level of know-how, combined with Italy's advanced industrial and scientific expertise in both geology and energy conversion, can make an important contribution to efforts related to the energy transition through geothermal energy.
The Mur's Chief of Cabinet, Marcella Panucci, who was in Reykjavik to attend the Arctic Circle Assembly 2024, emphasised the importance of following up on what had been agreed by involving our private sector, enhancing the excellent cooperation with Minister Pichetto Fratin, which was also confirmed at this juncture.
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