Solid operations in challenging weather conditions
Landsvirkjun's interim financial statements for Q1 2025 have been published.
Landsvirkjun‘s profit from core operations for the first quarter of the year amounted to USD 91 million. The Company’s financial position has never been stronger.
Landsvirkjun Successfully Issues Green Bonds in the U.S. Market
Landsvirkjun has today successfully issued green bonds in the U.S. private placement market, totalling USD 150 million.
The original issuance target was USD 125 million, but strong investor interest led to the offering being upsized and closed at USD 150 million.
Construction at Vaðölduver starts
Landsvirkjun has finalised an agreement with the construction company Ístak ehf. for various construction work at the new wind power station Vaðölduver, the first in Iceland.
The deal is worth approximately USD 53 million.
ESA Initiates Investigation
ESA has announced its decision to formally open an investigation into whether Landsvirkjun has infringed EEA competition rules by refusing to supply electricity to enterprises seeking to produce hydrogen or e-fuel in Iceland.
Landsvirkjun's Dividend Payment of USD 195 Million
Landsvirkjun's Annual General Meeting approved the Board of Directors'
recommendation of approximately USD 195 million to the Icelandic state
treasury.
The total dividend payments from 2021 to 2024 are about USD 703 million.
Our Power Stations
We operate fourteen hydropower stations, three geothermal power stations and two wind turbines for research purposes in five operating areas in Iceland.
In operating power stations, emphasis is placed on a holistic vision, where prudence, reliability and harmony of the operations with environment and society are the guiding principles.
