First space-based solar power targeted to Iceland by 2030

GB space-based solar power pioneer Space Solar and Iceland’s Transition Labs are partnering to deliver the first solar power from space to Reykjavik Energy by 2030.

The agreement between the two companies is significant as it marks out the location of the first space-based solar power receiving station but also ups the ambition for this solar power to become a reality.

Space Solar’s first plant, set to be operational by 2030, is planned to have an initial capacity of 30MW with the ability to supply consistent, dispatchable power around the clock, independent of weather conditions and hour of the day.

“Space-based solar power offers unparalleled benefits with competitive energy costs and 24/7 availability,” commented 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.”

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Space Solar has been collaborating with Transition Labs, a private climate initiative, with support for strategic planning, funding and business development.

Reykjavik Energy, an energy and utility company with its service area in the southwest of Iceland, is known for its focus on sustainability, most notably via its carbon storage subsidiary, Carbfix.

Together, the organisations are tackling the engineering challenges of space-based solar energy and are currently identifying potential locations for ground-based reception stations.

Iceland, Canada, and northern Japan are potential sites for additional receiving stations as the constellation of power stations develops, with Space Solar planning to scale up to gigawatt scale by 2036.

Kjartan Örn Ólafsson, CEO of Transition Labs, adds that the collaboration with Reykjavik Energy marks a key milestone in Space Solar’s journey toward full-scale deployment.

“Their forward-thinking approach to climate technology, combined with expertise in carbon storage through Carbfix and a long-standing partnership with Climeworks, makes Reykjavik Energy the perfect partner for Space Solar’s initial phase,” said Ólafsson.

Independent analysis by Imperial College London quoted by Space Solar indicates that the inclusion of 8GW of space-based solar energy in the UK’s energy mix could deliver over £4 billion (US$5.2 billion) in reduced system costs annually.