Iceland’s hope of finding oil offshore its coast is fading after China and Norway decided to back out of the island nation’s only remaining exploration license.
Silicor Materials Inc. expects to complete financing in the next two months for a $1 billion plant it says will produce solar-grade silicon for at least 40 percent less than existing facilities.
Icelandic volcanoes could be providing power to British homes, under plans to be announced by David Cameron. The Prime Minister, attending the Northern Future Forum in Reykjavik, is expected to say that the UK and Iceland are to look at establishing an electricity pipeline between the two countries. The multi-billion pound “interconnector” - involving 750 miles of undersea cabling - would enable the direct export of hydro and geothermal-generated electricity to be exported directly to Britain.