Iceland Poised to Tap Space-Based Solar Energy by 2030 in Landmark Deal

Iceland is set to receive 30 MW of space-based solar energy by 2030 in a new deal between Space Solar and Reykjavik Energy, marking a major step toward the commercialization of space-based solar power.

In a groundbreaking agreement, Iceland is set to benefit from space-based solar energy by 2030, thanks to a new partnership between U.K. company Space Solar and Transition Labs. The collaboration aims to deliver 30 MW of space-based solar power to Reykjavik Energy, marking a major milestone in the commercialization of this innovative energy solution.

Space Solar’s Groundbreaking Technology

Space Solar has developed an advanced solar power system that orbits Earth, capturing solar energy and transmitting it wirelessly to ground-based stations using high-frequency radio waves. These stations then convert the energy into electricity and feed it directly into the power grid, providing clean, renewable energy to homes and businesses.

The company’s first space-based solar plant is scheduled to be operational by 2030, with an initial capacity of 30 MW. This innovative project is expected to be a significant contributor to Iceland’s clean energy landscape.

A Milestone for Space-Based Solar Energy

The agreement with Reykjavik Energy represents a significant step in bringing space-based solar power closer to commercial reality. If successful, this project could demonstrate the viability of harnessing solar power from space and transmitting it wirelessly, offering a new solution to meet global energy demands.

“Space-based solar power offers unparalleled benefits with competitive energy costs and 24/7 availability,” said Martin Soltau, co-CEO of Space Solar. “Reykjavik Energy’s recognition of the potential for space-based solar to drive the energy transition is exciting, and we’re thrilled to be working together in partnership toward a sustainable future.”

Iceland’s Clean Energy Future

With this deal, Iceland is reinforcing its commitment to clean energy innovation. Already a leader in renewable energy, primarily from geothermal and hydropower sources, Iceland’s embrace of space-based solar power could further solidify its position as a pioneer in the global shift toward sustainable energy solutions.