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Excerpt from ThinkGeoEnergy

Norwegian Rock Energy has signed a declaration of intent with Orkufelagid, a Faroe Islands based energy company on exploring geothermal energy as an option for heating (and possibly electricity).

The parties will design a conceptual feasibility study to respond to the Faroe Islands’ need for energy through optimized use of Rock Energy’s energy sources for efficient use all year round. Rock Energy intends to lead the project through a detailed assessment phase (FEED) with a subsequent implementation phase. The goal is to, after the authorities’ approval, use Rock Energy’s energy sources to produce electricity and heat for efficient use all year round.

The Faroe Islands, which are isolated in the middle of the North Atlantic, need to be self-sufficient in electricity because the electricity grid in the Faroe Islands is not connected to any neighboring country.

The political goal is to replace around 230,000 MWh, which is currently produced with heating oil. The Faroe Islands have increased CO2 emissions significantly in recent years – almost doubling since 1990 – and the government’s goal is to reduce CO2 emissions in accordance with the Paris Agreement.

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