Krýsuvík

The geothermal area in Krýsuvík is divided into four sub-areas; Austurengjar, Sveifluháls, Sandfell and Trolladyngja. Ideas about using geothermal energy in Krýsuvík have a long history, and the Hafnfjörður people, as landowners at Sveifluháls and Austurengjar, have paid attention to the area for decades, both for electricity generation and for a heat supply that could serve nearby urban areas. There are numerous shallow boreholes in Krýsuvík, which were drilled in the last century, but HS Orka has so far only drilled deep research boreholes in Trölladyngja.

HS Orka currently has a research license that covers all four sub-regions in Krýsuvík and the license is valid until October 31, 2025. HS Orka and Hafnarfjarðarbær have signed a memorandum of understanding on research and utilization of fresh water and geothermal energy in Krýsuvík, but from the second half of 2023 systematic work has been carried out to complete the drafting of a resource agreement between the parties.

HS Orka was granted a construction permit for the exploration drilling in the Krýsuvíkur area at the beginning of 2024, and preparations for the drilling have already begun. The goal is for drilling to begin at the end of 2024 or as soon as the resource agreement between HS Orku and Hafnarfjarðarbær is finalized.

HS Orka has made an agreement with Veitur ohf. about a possible collaboration on the procurement of water and the production of hot water for Veitna ohf's utility system. Work will be done in 2024 to create a basis for cooperation between the two companies.

The Norwegian Energy Agency's overall assessment of the Krýsuvíkur area as a geothermal system is between 270 MW - 800 MW with a median value of 445 MW for the estimated electricity generation capacity.