A- Credit Rating Affirmed and SACP Upgraded

S&P Global Ratings has affirmed Landsvirkjun’s credit rating at A- with a continued stable outlook. 

Landsvirkjun Puts Green E-Methanol Project Development on Hold  

Landsvirkjun hefur frá árinu 2022 kannað möguleikann á framleiðslu á grænu raf-metanóli á Bakka við Húsavík í samstarfi við PCC SE, móðurfélag kísilvers PCC á Bakka.

Landsvirkjun's interim financial statements for Q1 2025 have been published.

Solid operations in challenging weather conditions

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.

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.

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. The project is expected to commence in May and conclude by summer 2027. 

Construction at Vaðölduver starts - Ístak commisioned

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.

Landsvirkjun received a request for information (RFI) from the EFTA Surveillance Authority (ESA) in June 2024, in which information and documentation were requested regarding the potential sale of electricity by Landsvirkjun to new customers.

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.

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.

Landsvirkjun has introduced a new company strategy focused on e-fuels and climate-related business development. The strategy establishes a framework for the development of these activities and gives guidelines for energy sales to sectors engaged in such projects. 

New Strategy on E-fuels and Climate-Related Business Development 

Landsvirkjun has introduced a new company strategy focused on e-fuels and climate-related business development. 

Landsvirkjun Power and Growler Energy are pleased to announce the formation of a new renewable energy company in Newfoundland and Labrador - Vinland Power. 

Landsvirkjun's Financial Statements for year 2024 have been published. The company’s financial position is stronger than ever and the Board intends to propose a dividend to the state amounting to USD 180 million this year.

Solid operations in challenging conditions

Landsvirkjun's Financial Statements for year 2023 have been published. 

We operate fourteen hydropower stations in four operational areas across Iceland.

Icelanders are fortunate enough to have an abundance of water. We use this water to generate electricity that drives most of what we do in our modern society. Water is a renewable energy source, meaning that its utilisation does not deplete the resource. Its use is green and clean because it does not release greenhouse gases into the atmosphere.

We operate three geothermal power stations, all located in the Northeast.

Geothermal energy flows continuously from the Earth’s core to the surface. Iceland is one of the regions in the world where geothermal heat can reach the surface through a volcanic zone across the country.

We operate two wind turbines for research purposes in a lava field called Hafið in South Iceland.

Iceland is one of the windiest places in the world on land. Wind power originates in the sun and its rays, as the sun's rays and the Earth’s atmosphere drive the wind- and the weather system. These systems develop enormous amounts of energy.

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.

We are the nation’s biggest energy company. We generate electricity solely from 100% renewable sources:  hydropower,  geothermal  and  wind.

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The National Power Company of Iceland

The National Power Company of Iceland

Latest news

A- Credit Rating Affirmed and SACP Upgraded

Landsvirkjun Puts Green E-Methanol Project Development on Hold

Solid operations in challenging weather conditions

Landsvirkjun Successfully Issues Green Bonds in the U.S. Market

Construction at Vaðölduver starts - Ístak commisioned

ESA Initiates Investigation

Landsvirkjun's Dividend Payment of USD 195 Million

New Strategy on E-fuels and Climate-Related Business Development

Vinland Power established in Canada

Solid operations in challenging conditions

Energy resources

Hydropower

Geothermal

Wind Power

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