Iceland's leading role in geothermal power is world renowned. The tiny country wants to sell more of it's excess geothermal power and expertise overseas. Some 26% of the country's power needs are covered by geothermal at the moment, which greatly reduces Iceland's reliance on fossil fuels. The main boom in Iceland's geothermal energy sector came during the oil crisis in the 1970s.
Since 2011, Iceland has been discussing plans to sell electricity to the rest of Europe, via a submarine cable to Scotland. Electricity sale would help Iceland to get out of the deep economic crisis. The Iceland's President Olafur Ragnar Grimsson supports the project. The project is technically feasible, its financing, however, requires international support.
For more than three decades, the Icelandic government has been working with the University of the United Nations to train engineers from developing countries. More than 515 specialists from 53 countries have been trained in Reykjavik over the years.
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