Landsvirkjun

Landsvirkjun partly or wholly owns four subsidiaries. These companies are related to core operations of Landsvirkjun and in all cases specialise in sectors which derive from energy production, such as the transmission of electricity and management of electrical systems, participation in foreign energy projects, telecommunications services, energy research, and insurance for power stations.

Subsidiaries

Orkufjarskipti hf.

www.orkufjarskipti.is

At the end of 2011, Orkufjarskipti hf. took over the operations of Fjarski ehf., which had been founded in 2000 to operate Landsvirkjun’s telecommunications systems. Landsnet hf. is a 50% owner of Orkufjarskipti hf. in a joint partnership with Landsvirkjun, contributing its own telecommunications assets. At the same time, the company was changed from a private limited company to a limited company, its name changed to Orkufjarskipti hf., its capital increased and a new board elected.

Landsnet

www.landsnet.is

Landsnet hf. operates under the Electricity Act, which was passed in Parliament in the spring of 2003. Its role is to operate Iceland’s electricity transmission system and administer its system operations. It operates on the basis of a special licence and is subject to surveillance by National Energy Authority, which decides the income framework on which the company’s tariff is based. Landsvirkjun has a 64.7% holding in Landsnet.

Icelandic Power Insurance

Icelandic Power Insurance Ltd. A captive insurance company, which handles insurance and re-insurance for Landsvirkjun’s power stations and, in addition, supervises insurance for construction projects. It is wholly-owned by Landsvirkjun.

Landsvirkjun Power

www.lvpower.is

The role of Landsvirkjun Power ehf., which began operating at the beginning of 2008, is to use Landsvirkjun’s knowledge to conduct consultancy projects in matters related to energy on the international market. It is wholly-owned by Landsvirkjun.

Other companies

Other companies

Landsvirkjun is also related to the following companies, either as a minority shareholder or as a collaborator. 

Badfélag Mývatnssveitar hf.

www.jardbodin.is

Badfélag Mývatnssveitar hf. Landsvirkjun owned 15.1% of the active capital in Badfélag Mývatnssveitar at the end of 2013.

DMM Solutions ltd.

www.dmm.is

DMM Solutions ltd. is a software and consultancy company which specialises in the production of the information systems, DMM and Inspector.is, and in consultancy in connection with customers’ use of the systems. Landsvirkjun owns 16.6% of DMM.

Neydarlínan

www.112.is

Neydarlínan ohf. operates the emergency number 112. It also operates Vaktstödvar siglinga and telecommunications station at Gufunes, and owns and operates the telecommunications company, The National Tetra Service. Landsvirkjun owns 8% of the company.

Icelandic New Energy

www.newenergy.is

NýOrka hf. is a platform for co-operation between the energy companies and research institutions. NýOrka’s aim is to lead projects that test new hydrogen technology and to promote the use of hydrogen in the Icelandic community. Landsvirkjun owns 12% of the company.

Farice

www.farice.is

Farice ehf. was founded in September 2002 for the purpose of preparing and operating the FARICE and DANICE submarine cables. Landsvirkjun owns 28.9% of the company.

Netorka

www.netorka.is

Netorka hf. is a joint-measurement data and settlement company that serves the Icelandic electricity market. It handles the settlement and processing of sales measurements and keeps track of changes in the transactions of electricity sellers and buyers. Landsvirkjun owns 6.1% of the company.

Íslensk orka

Íslensk orka ehf. conducts operations related to the harnessing and use of energy. Landsvirkjun has a 27.2% holding in the company.

Sjávarorka ehf.

www.sjavarorka.com

Sjávarorka ehf. conducts marine research. Landsvirkjun holds a 30.3% stake in the company.