Landsvirkjun

Resource streams from geothermal electricity production

Companies who locate their operations near Landsvirkjun’s geothermal power plants can acquire access to multiple energy and material streams as inputs to their production processes. A partnership with Landsvirkjun together with Iceland's friendly and competitive business environment can aid companies in building a competitive advantage. Contact us at power@landsvirkjun.com to discuss projects and ideas and for any additional information.

What is geothermal?

Iceland is located on the Atlantic Ridge and the island is subject to heavy rainfall throughout the year. The country is particularly rich in high-temperature geothermal resources where the force of the earth's core heats up water that continually seeps down into the earth. Iceland has acquired considerable expertise in geothermal electricity generation that allows us to utilise the resources in a sustainable manner to produce electricity, hot water and other energy and material streams.

Below is a video on geothermal energy in Iceland from Landsvirkjun's environmental report.

Geothermal sites

Landsvirkjun currently operates two geothermal power plants in the North-Eastern part of Iceland. The construction of a third geothermal power plant is also under-way and is expected to come online before end of 2017. The existing plantsBjarnarflag and Krafla. have a combined capacity of 63 MW. The third power plantTheistareykir, will have a 90 MW capacity which will be developed in two 45 MW phases.

The three sites are located near the towns of Akureyri and Húsavík.

Resource streams

A wide variety of industries can benefit from the renewable electricity and other resource streams stemming from geothermal energy production.

The main resource streams available are:

  • Electricity
  • Carbon dioxide
  • Hot water
  • Cold water

Green houses and fuel production are good examples of the viable application of these resource streams. Another example is the Myvatn Nature Baths which utilises run-off water from one of Landsvirkjun's geothermal power plants in the North-East of Iceland. The bathing site is visited by more than two hundred thousand tourists yearly.

Doing business in Iceland

Iceland is part of the European Economic Area (EEA) which consists of EU member states along with Norway and Lichtenstein. The EEA membership guarantees the free movement of goods, people, services and capital within the area. As a condition of EEA membership, a significant part of EU legislation has been implemented in Iceland.

Iceland is well connected to both Europe and America, with flights to and from the island operated by a number of international operators. For more information see here.

Further information concerning the business environment in Iceland, workforce, taxes, investment incentives and more, can be found here.

For more detailed reports on power-related topics and the business landscape in Iceland, see here.