Landsvirkjun established 50 years ago

1. July 2015

The Jóhannesarlund Garden is inaugurated at the Búrfell Hydropower Station

Landsvirkjun was established on the 1st of July, 1965 in connection with the construction of the Búrfell Hydropower Station. Initially, the Icelandic state and the City of Reykjavík established the Company and owned a 50% share. The Icelandic state now owns 100%. The Búrfell Hydropower Station was the first large-scale project completed by the Company and the largest of its kind in Iceland at that time. The power station laid the foundation for new industry in Iceland, increasing expertise and creating a more diverse labour market.

Landsvirkjun is built on a solid foundation. The demand for Icelandic energy has now surpassed the available supply of energy and operations have thrived in this environment. Landsvirkjun operates 14 hydropower stations and two geothermal stations in five areas of operation, all around the country. The Company is currently constructing a geothermal station in the Þeistareykir area and a research project on two wind turbines in the Hafið area. Landsvirkjun has 250 employees. Landsvirkjun’s digital Annual Report can now be accessed on the Company website:

Landsvirkjun has held a number of open meetings on issues related to the Company to celebrate its 50 anniversary. The challenges are varied and call for open communication with stakeholders across the country on issues related to operations. The Annual Meeting was held on the 5th of May this year as well as two meetings pertaining to climate change. Meetings were held with residents in the northeast of Iceland to discuss the Þeistareykir Project and in the south of Iceland to discuss the expansion of the Búrfell Hydropower Station. Landsvirkjun also held a meeting in June to discuss the needs of the data center industry. All meetings have been streamed live on the Company website and recordings of the meetings can be accessed via Landsvirjun’s Youtube account: Further meetings will be held this autumn.

Landsvirkjun will also commemorate its anniversary by setting up an interactive exhibition on energy and renewable energy sources at the Ljósafoss Hydropower Station this summer. Landsvirkjun’s visitor centres will be open this summer at the Krafla Geothermal Power Station and Búrfell Hydropower Station.

Jóhannes Nordal honoured

Mr Jóhannes Nordal, a former Governor of the Central Bank of Iceland was the first Chairman of the Board at Landsvirkjun and left the Company in 1995 after 30 years of leadership. Landsvirkjun’s employees decided to honour him this year by planting a tree in a new garden area dedicated to Mr Nordal at the Búrfell Hydropower Station. The garden was inaugurated by current and former employees on the date of the Company’s anniversary and was given the name ‘Jóhannesarlund’. The photograph shows Mr Jóhannes Nordal, Chairman of the Board at Landsvirkjun between 1965 and 1995 and Mr Hörður Arnarson, Landsvirkjun’s current CEO planting the first tree in the Jóhannesarlund Garden. Fifty trees were planted in the garden to mark fifty years of operation.

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