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A British startup aims to provide Iceland with solar power from space by 2030, marking what could be the world’s first demonstration of this innovative renewable energy source.

The ambitious project is a collaboration between U.K.-based Space Solar, Reykjavik Energy, and the Icelandic sustainability initiative Transition Labs.

The plan includes launching a demonstration satellite by 2030, which will beam 30 megawatts of clean energy to Earth - enough to power around 3,000 homes.

The power-beaming satellite, weighing 70.5 tons (64 metric tons) and measuring about 1,312 feet (400 meters) in width with its solar arrays, will orbit the planet in medium Earth orbit, ranging from 1,241 miles to 22,000 miles (2,000 to 36,000 kilometres) above the Earth.

By 2036, the partners envision a fleet of six space-based solar power stations capable of supplying gigawatts of clean energy around the clock, unaffected by weather or daylight. By the mid-2040s, Space Solar’s orbiting power plants could be delivering over 15 gigawatts of energy.

Space Solar estimates the development and manufacturing of the pilot plant will cost $800 million, with the final system providing electricity at a cost of $2.25 billion per gigawatt - about one-quarter of nuclear power costs - making it competitive with Earth-based renewable sources. Unlike terrestrial photovoltaics and wind turbines, the orbiting stations avoid intermittency, generating electricity continuously, regardless of time or weather.

“Space-based solar power offers unparalleled benefits with competitive energy costs and 24/7 availability,” said Martin Soltau, co-CEO of Space Solar, in an emailed statement. “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.”

Space Solar plans to use SpaceX's Starship mega-rocket to launch each 30-megawatt solar farm into orbit. With a payload capacity of up to 165 tons (150 metric tons) to low Earth orbit, Starship is expected to significantly reduce launch costs, removing a key barrier to deploying large-scale space infrastructure like orbiting solar power stations.

Project partners are also scouting locations for ground-based receiving antennas, which will collect the energy beamed down in high-frequency radio waves and convert it into electricity for the power grid.

Space Solar’s modular power plants are built from core building blocks that allow for scalable solar power harvesters. The company notes that these satellites could orbit at different altitudes, providing power to multiple countries simultaneously.