| Title | A Strategic Approach to Sustainable Reservoir Management |
|---|---|
| Authors | Hildigunnur H. THORSTEINSSON, Edda ARADOTTIR, Heiða ADALSTEINSDOTTIR, Gunnar GUNNARSSON, Ingvi GUNNARSSON, Marta R. KARLSDOTTIR, Sandra O. SNAEBJORNSDOTTIR, Einar GUNNLAUGSSON |
| Year | 2020 |
| Conference | World Geothermal Congress |
| Keywords | Reservoir management, sustainability framework, ESG, long-term vision, |
| Abstract | ReykjavÃk Energy (OR) is the largest geothermal energy company in Iceland. Through its subsidiaries, Veitur utilities and ON Power, the company provides about 70% of Icelandic homes with district heating and about 50% with electricity. Energy production is carried out in two co-generative high temperature geothermal power plants as well as through direct use of numerous low temperature geothermal systems. OR’s history of utilizing low and high temperature geothermal reservoirs spans 90 and 30 years, respectively. Sustainable utilization of these reservoirs calls for long-term vision and planning. A strategic framework to sustainable reservoir management has been developed within the OR group in recent years, ensuring sustainable reservoir management both in the near and long term. The framework relies on a framework around environment, society and governance (ESG) and consists of: • a clear policy and goals for sustainable resource utilization • near (1-5 years) and long-term (30-100 years) scenario analysis • clear processes for monitoring and managing reservoirs in utilization as well as securing new resources for future use in mind • reservoir management plans updated on an annual basis describing the timeline and milestones of projects ensuring sustainable reservoir utilization • bi-annual update of a pre-defined key metrics that measure the sustainability of geothermal reservoir utilization with respect to e.g. entropy, mass extraction, environmental effects etc • on-going stakeholder involvement e.g. with monthly information meetings with commissioning bodies and regular meetings with local authorities. An integral resource and land use plan for long term sustainable development is in preparation. Status of geothermal resources is reported to management teams and boards on a bi-annual basis and presented in annual reports of the OR group. |