Space Solar and Transition Labs will bring solar energy from space to Iceland by 2030

Space Solar and Transition Labs will bring solar energy from space to Iceland by 2030

Space Solar, a leading company in space solar energy, has partnered with Transition Labs to supply Reykjavik Energy with electricity from the world’s first space solar power plant. This plant, which is expected to be operational in 2030, will have an initial capacity of 30 MW.

Space Solar’s new solar energy system will orbit the Earth, capture solar energy and transmit it wirelessly to stations on the ground using high-frequency radio waves. These stations will convert the energy into electricity and supply it directly to the grid, providing renewable energy 24/7, regardless of weather conditions, at a cost comparable to other renewable sources.

The company marks an important step in the sustainable energy sector. Unlike ground-based solar power plants, which rely on sunlight and weather, Space Solar’s technology ensures consistent energy generation. Their first plant will generate 30 MW within five years, and by 2036 each plant could deliver GigaWatts of power, meeting growing global energy demands and contributing to a carbon-free future.

Transition Labs, a private climate initiative based in Iceland, has supported Space Solar in realizing this vision. Reykjavik Energy, known for its leadership in climate action through its subsidiary Carbfix, is a key partner in the project. Together they are tackling the technical challenges of solar energy in space and exploring locations for ground-based receiving stations, including Iceland, Canada and northern Japan.

Kjartan Orn Olafsson, CEO of Transition Labs, highlighted the partnership, saying: “The collaboration with Reykjavik Energy marks an important milestone in Space Solar’s journey to full 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 the first phase of Space Solar.”

Imperial College London’s independent analysis shows that adding 8 GW of space-based solar power to the UK energy system could save more than GBP 4 billion in system costs annually.

Martin Soltau, co-CEO of Space Solar, expressed his excitement about the project: “Space-based solar energy offers unparalleled benefits with competitive energy costs and 24/7 availability. Reykjavik Energy’s recognition of the potential of space-based solar energy to to power energy The transition is exciting and we are excited to work together towards a sustainable future.”

The agreement with Reykjavik Energy is an important step in the commercialization of space-based solar energy, putting Space Solar at the forefront of a new renewable energy revolution with global implications.