The Icelandic Geothermal Cluster, the Transition to Clean Energy in Emerging Markets and the Role of International Financial Institutions

Hilmar Þór Hilmarsson
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Hilmar Þór Hilmarsson: University of Akureyri, Iceland

Journal of Applied Management and Investments, 2014, vol. 3, issue 4, 220-229

Abstract: Iceland has received international attention for its use of geothermal energy for space heating and electricity production. The focus of this article is on the potential of an Icelandic geothermal exporting cluster engaging cross border in emerging markets. This could include provision of consultant and advisory services, construction, operations and maintenance of geothermal power plants, as well as sponsors and shareholders in geothermal projects. Being a sponsor/shareholder would require cross border capital investments. Given the higher risk profile in emerging market countries, than in many high income countries, the participation of international financial institutions and export credit agencies will be discussed as sources of funding and risk mitigation for geothermal projects.

Keywords: Geothermal cluster; Iceland; emerging markets; cross-border trade and investment; funding and risk mitigation instruments (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (2)

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