Iceland balking at using geothermal for debt payback

In England, a treasury spokesman says that said the government of Iceland doesn’t want any connection between the loans made to prop up Icesave bank and its geothermal resources. Gijs Graafland, director of the Amsterdam-based Planck Foundation, proposed the idea that the country pay back the $5.32 billion loan by supplying power to the two countries. The money to bail out the bank came from both the UK and Holland. Iceland’s largest power company Landsvirkjun is looking at the feasibility of a high voltage route to Scotland. A syudy done a decade ago estimated it would cost $1 billion to lay a 750-mile line.