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Iceland Electric Power Transmission & Distribution (T&D) Infrastructure Industry Analysis
Electricity in Iceland is generated by hydro and geothermal power plants. Despite being a small country, Iceland has a well-developed electricity transmission and distribution infrastructure. The country's electricity grid is managed by the state-owned transmission system operator, Landsnet, which is responsible for the operation, maintenance, and development of the high-voltage electricity transmission network.
Current Scenario:
Iceland has a highly reliable and stable electricity supply, with over 99% of the population having access to electricity. The country's electricity sector is dominated by renewable energy sources, with almost 100% of electricity generated from hydro and geothermal power plants. In 2020, the total installed capacity of the electricity generation system was 2,617 MW, with the majority (2,245 MW) coming from geothermal sources.
Construction of New Projects:
In recent years, Iceland has seen several new investments and projects related to the transmission and distribution of electricity. In 2020, Landsnet completed the construction of a new 220 kV transmission line between H?lasandur and Akureyri, which will improve the reliability and security of the transmission network in northern Iceland. Landsnet is also working on several other projects to upgrade and expand the transmission network, including the construction of a new substation in Reykjanes and the installation of a new submarine cable between Iceland and Scotland.
Major Drivers:
The primary drivers of the Electric Power Transmission & Distribution Infrastructure industry in Iceland are the country's abundant renewable energy resources and its commitment to decarbonization. The government has set ambitious targets to reduce greenhouse gas emissions and increase the share of renewable energy in the country's energy mix. The growth of the tourism industry has also increased demand for electricity in Iceland, which has led to investments in the transmission and distribution infrastructure.
Industry Outlook:
The outlook for the Electric Power Transmission & Distribution Infrastructure industry in Iceland is positive. The government's commitment to renewable energy and decarbonization is expected to drive further investments in the sector. Landsnet's ongoing projects to upgrade and expand the transmission network will improve the reliability and security of the electricity supply, which is important for the country's economic development. The expansion of the data center industry in Iceland is also expected to increase demand for electricity, which will create opportunities for further investments in the sector.
In conclusion, the Electric Power Transmission & Distribution Infrastructure industry in Iceland is well-developed and dominated by renewable energy sources. The country's commitment to decarbonization and the growth of the tourism and data center industries are expected to drive further investments in the sector. Landsnet's ongoing projects to upgrade and expand the transmission network will ensure a reliable and secure electricity supply, which is crucial for the country's economic development.
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