-said CEO Hörður Arnarson at Landsvirkjun´s Annual General Meeting

The advert “Will our wind finally be useful” was awarded first prize in the category of individual web advertisement by FÍT – the Association of Icelandic Graphic Designers

Reduced debt and increased cash flow
Annual Report 2011 will be published in English in May 2012.

Landsvirkjun has signed a three year Revolving Credit Facility amounting to 10.5 billion Icelandic kronur (USD 86 million).

The report is now published for the fifth time and provides information on the development of environmental matters within the company.

Landsvirkjun has approved a new Strategy on Corporate Social Responsibility.

Landsvirkjun plans to construct two wind turbines for research purposes next year

Landsvirkjun's Autumn Meeting was held on November 15 and was attended by about 400 guests.  

Landsvirkjun announced yesterday at its annual fall meeting that it currently offers 43 USD/MWh on up to 12 year contracts to industrial companies.

There has been international cooperation in the field of hydropower to develop a sustainability assessment protocol for hydropower stations

Agreements are made with the engineering companies Mannvit hf. and Verkís hf. for the tender and final design for the power stations at Bjarnarflag and Þeistareykir

Landsvirkjun has repurchased an EMTN bond maturing in 2013 for EUR 10 million notional.

An analysis of the outlook for Landsvirkjun from 2025 to 2035.

Today, Landsvirkjun signed a 7 year private placement amounting to USD 63.2 million.

Today, Landsvirkjun signed a 10 year private placement amounting to USD 70 million (some 8 billion ISK).

Strong liquidity position and increased cash flow

Landsvirkjun Power, a subsidiary company of Landsvirkjun, and Verkis Consulting Engineers signed a contract with Dariali Energy Ltd on July 15 2011.

Landsvirkjun Power, a subsidiary company of Landsvirkjun, has recently signed a contract with Greenland´s Nukissiorfiit on operational assistance and maintenance. 

The construction work at Búðarháls Power Station is going well and the work is on schedule.

The exhibition was opened on June 11^th by Landsvirkjun´s CEO Hörður Arnarson and is intended to educate visitors about renewable energy in an entertaining and interactive way.

Seven applications for a prequalification according to prequalification documents no. 20038 - Hrauneyjafoss Hydro Power Plant, Generator step up transformer, were opened at Landsvirkjun's headquarters today.

Landsvirkjun and Theistareykir ehf. have advertised a call for tenders for consultancy work for the planned power stations at Bjarnarflag and Theistareykir.

Theistareykir ehf. and Jardboranir hf. sign a contract on exploratory drilling

Iceland in 2025: Diverse industries, submarine cable and green revenue

Today Landsvirkjun signed an agreement on a bond issue for USD 100 million which is the equivalent of ISK 11.2 billion.

On March 23, 2011, Landsvirkjun signed a new loan agreement amounting to EUR 70 million (some 11.3 billion ISK) with the European Investment Bank (EIB).

Bids for penstock renewal, according to contract documents no. 20031 were opened at Landsvirkjun's main office.

Today, March 18^th, 2011, the financial statements of Landsvirkjun were approved in a meeting of the Board of Directors.

On March 16, 2011, Landsvirkjun signed a new loan agreement amounting to USD 70 million (some 8.6 billion ISK) with the Nordic Investment Bank (NIB) in Helsinki, Finland.

A pre-feasibility study on a submarine cable to connect the Icelandic power system to the UK or Continent Europe is being conducted by Landsvirkjun.

Landsvirkjun has recruited three new staff members to strengthen its base as a leader in marketing and sales of renewable energy in Europe.

Landsvirkjun and Íslandsbanki have signed an agreement to lengthen their current revolving credit agreement of three billion icelandic krónur and also to enter into a new agreement for a further two billion krónur.

Landsvirkjun has signed a new Power Purchase Agreement with Icelandic Silicon Corporation, a company where Globe Speciality Metals (NASDAQ: GSM) is majority shareholder.

On 15 February 2011 bids for BUD-33, Budarhals gate equipment and penstocks, were opened.

Landsvirkjun and Carbon Recycling International (CRI) have signed a Memorandum of Understanding on performing a study on the feasibility of constructing a methanol plant close to Landsvirkjun‘s Krafla geothermal power plant in the Northeast of Iceland.

Landsvirkjun plans investments of ISK 1.5 billion in projects in North East Iceland in 2011 according to the company's financial plan which was agreed at a Landsvirkjun board meeting today.

On December 1, 2010 bids for KRA 20021 Refurbishment of Turbines were opened.

Ragna is a former minister of Justice and Human Rights and overtakes the potition from Agnar Olsen who retires after decades of services at the company.

There were about 370 participants at the Landsvirkjun Autumn Meeting which was held at the Hilton Reykjavik Nordica last Wednesday. A Power Company at the Crossroads was the title for the meeting where a draft of the company's vision for the future was presented.

Landsvirkjun and Ístak hf. signed a contract today for the construction of Búðarháls Power Plant. The project is subdivided into three LOTs.

The aim is to study the conditions for electricity production by wind turbines in Iceland

Standard & Poor‘s credit rating agency have raised Landsvirkjun‘s long-term credit rating from BB (negative) to BB+ (negative).

Renewable energy share to be 20% of all energy production in the EU by 2020

Óli Grétar Blöndal Sveinsson has been appointed the new manager of Landsvirkjun Research and Development Division.

On 5 October 2010 bids for NTH-30 Budarhals Electromechanical Equipment were opened.

Landsvirkjun and Orkuveita Húsvíkur (OH) have reached an agreement on Landsvirkjun's acquisition of OH's 28.771% share in the geothermal energy company Þeistareykir ehf.

Rafnar Lárusson has been appointed Chief Financial Officer at Landsvirkjun.

Landsvirkjun has made an agreement for an increase of its recent bond issue, from USD 100 million to USD 150 million.

Total quantity of waste from Landsvirkjun‘s operations in 2009 was around 50% lower than in 2008.

Landsvirkjun accepted an invitation from the United Nations and attended the private sector leaders' summit on the millennium development goals that was held in New York yesterday.

Landsvirkjun and Alcan Iceland Ltd. have met or have waived the reservations made in the power purchase agreement between the parties regarding sale of electricity to the aluminium smelter at Straumsvík.

Landsvirkjun today signed an agreement for a bond issue of USD 100 million. The bonds are for a term of five years and carry 6.5% fixed interest.

Since 2002 Landsvirkjun has participated in joint Nordic research projects on climate change impacts on river flow.

Today, 30 August 2010, the interim financial statements of Landsvirkjun were approved in a Board of Directors' meeting.

On 26 August 2010 bids for BUD-01 Budarhals Civil Works pursuant to Contract Documents BUD-01 dated June 2007 were opened.

Tenders will be opened at 14:00 hours today for the civil works component of the Búðarháls Hydroelectric Project BUD-01 at the Landsvirkjun premises at Háaleitisbraut 68, 103 Reykjavík.

Landsvirkjun Power will act as advisor on the redevelopment of small hydroelectric plants as well as submit a pre-feasibility studies for four new hydropower plants.

Landsvirkjun supports many good causes each year and the company receives requests to participate in and support many interesting projects.

The exhibition Reality Check was a part of Reykjavík Arts Festival in Reykjavik city center from 15 May to 28 June 2010. It can now be seen in six of our power stations.

At the World Geothermal Congress at Bali in Indonesia there were numerous studies presented and more than 20 lectures were given on Icelandic energy issues.

The exhibition Nature in Design was opened at Ljósafossstöð at Sogið last Saturday, 19 June. More than 300 guests came to Sogið the first weekend of the exhibition to see Icelandic design.

Landsvirkjun placed an advertisement last weekend asking for tenders for three construction phases at Búdarháls Power Plant.

Landsvirkjun and Alcan Iceland Ltd. have signed a new energy contract for the aluminium smelter in Straumsvik. The agreement is subject to standard conditions precedent, including the approval of the respective boards of directors. These shall be fulfilled before 31 August 2010.

A Declaration of Intent between Landsvirkjun on the one hand and China International Water & Electric Corporation (CWE) and Export-Import Bank of China (Exim Bank) on the other, was signed this morning.

Hördur Arnarson, Managing Director of Landsvirkjun, discussed rising electricity prices in Europe at Arion Bank's breakfast meeting on energy issues. Mr Arnarson pointed out that it is possible to raise electricity prices in Iceland with a connection to the European market, e.g. by laying a submarine power cable.

Moody's Investors Service has changed the outlook on the Baa3/P-3 senior unsecured ratings of Landsvirkjun from negative to stable.

The eruption in Eyjafjallajokull has until today had very limited effect in Iceland and no impact on Landsvirkjun's operations. 

Despite the devastating effect on air traffic in Europe the eruption in Eyjafjallajokull has very limited effect in Iceland and no impact on Landsvirkjun's operations.

Landsvirkjun is one of the sponsors of the MIT Global Startup Workshop 2010. Held annually since 1998, MIT GSW is an international convention that addresses innovation and invention, with attendees coming from up to 60 countries.

Landsvirkjun has carried out an evaluation on the impacts of the volcanic eruption in Eyjafjallajokull on hydropower plants in Southern Iceland.

Landsvirkjun's Annual General Meeting will be held in the Grand Hotel, Reykjavík, on Friday 16 April, from 13:00 to 15:00.

Landsvirkjun and the Icelandic Road Administration have signed a contract which assigns responsibility for Kárahnjúkar Road and part of Hraunvegur Road to the Administration.

Magnús Bjarnason has been appointed Managing Director of Marketing and Business Development at Landsvirkjun.

Yesterday, Landsvirkjun allocated ISK 58m in study and project grants.

This week, Landsvirkjun will be advertising for bids for the initial construction project phase of Búdarháls Power Plant. This work is expected to be completed by 1 December 2010.

Hördur Arnarson, Managing Director of Landsvirkjun, and Össur Skarphédinsson, Minister for Foreign Affairs, signed an agreement last Friday on Landsvirkjun's involvement in the 2010 World Expo.

Yale and Columbia universities place Iceland at the top of their Environmental Performance List.

At year end 2009, Landsvirkjun´s liquidity amounted to USD 415 million, whereof cash on hand was USD 135 million and an undrawn revolving credit facility amounted to USD 280 million.

Landsvirkjun was a national sponsor for Global Entrepreneurship week 2009 in Iceland. The company also initiated a local project in Norhtwest Iceland.

Today Landsvirkjun received a certificate to confirm that the OHSAS 18001 standard has been introduced within the company.

The Kárahnjúkar Dam was recognised as a milestone project at the first international conference on rockfill dams, which was held in Chengdu in China on 18th–20th October last year.

The completion of the Kárahnjúkar hydroelectric power project was celebrated at a ceremony at Fljótdalur station last Friday, October 2.

Landsvirkjun has issued a report on the Company's social responsibilities. It is envisaged that performance indicators in this field will be issued annually from now on.

The consumer price of electricity in Iceland has declined by 34% in real terms since 1 January 2005.

According to Landsvirkjun's consolidated income statement, profit for the first six months of the year 2009 amounted to USD 47.3 million or approximately ISK 6 billion based on the present exchange rate.

Hördur, who is 46 years old, completed his electrical engineering studies at the University of Iceland in 1986 and went on to obtain a doctorate from Danmarks Tekniske Universitet in Copenhagen four years later.

Landsvirkjun plans to drill prospecting boreholes at Gjástykki in the Thingeyjarsveit district. The exploration is a necessary step in collecting information on whether the area has usable geothermal resources.

The credit rating agency Standard & Poor's has changed its methodology as regards the credit assessment of government related corporates.

Drilling of the first IDDP well at Krafla, Iceland, continued in March this year. Yesterday, the drill rig encountered molten rock at 2104 m depth.

Because of the uncertainities in the financial markets, Landsvirkjun and the Treasury of the Republic of Iceland have entered ito a Contingent Credit Facility.

All of Landsvirkjun operations are currently certified in accordance with the ISO 14001 standard on environmental management systems.

The Annual General Meeting of Landsvirkjun, which took place today, has elected a new Board of Directors for the company for a term of one year.

Mr. Páll Ólafsson, a former Landsvirkjun employee, has written an arcticle in the FORUM magazine about the experience of using DRB during contruction of the Kárahnjúkar HPP.

The waterfall that forms when Hálslón Reservoir fills, has been formally named. The name was announced in Egilsstadir this week. A report on the waterfalls within the area affected by the Kárahnjúkar Power Plant was presented on the same occasion.

Landsvirkjun, the Blanda Station, was on of six companies that received recognition from the Administration of Occupational Safety and Health in Iceland (AOSH) at the Occupational Safety and Health Conference in 2008.

What does Búrfell Power Plant have in common with an aircraft hangar in Austria, a swimming pool in France and a coal mine in Germany? The answer is that these places are ideal locations for cultural events and art exhibitions.

Landsvirkjun’s Information System Division has fulfilled requirements for certification in accordance with the ISO 27001 standard, information security management systems.

The object of HydroKraft Invest hf., which is owned by Landsvirkjun and Landsbankinn Vatnsafl, is to invest in restructuring projects and new construction projects in the field of renewable energy.

Landsvirkjun has revised is profitability assessment regarding Kárahnjúkar Power Plant, originally made at the end of 2002 when the decision was taken to enter into an agreement with Alcoa to build the hydroelectric installation.

Both unit generator transformers of the Sultartangi Station have broken down due to damages to the insulation of secondary coils.

Landsvirkjun and Becromal Iceland have signed a declaration of intent on negotiations relating to energy purchase for a pure silicon plant. These negotiations will continue to at least the end of January.

LV established the company, currently named Landsvirkjun Power ehf. (LP), under the name Landsvirkjun Invest on 1 March 2007. The formal operation of the company will begin on 1 January 2008.

Árni Gunnarsson, engineer in the engineering and construction division, stated to the newspaper Morgunblaðid this morning that the noise from borehole 36 at Krafla was ear-splitting. The hole was opened and vented yesterday.

The US radio station NPR is currently broadcasting programmes on atmospheric issues and global warming. Four programmes on Iceland were broadcast in the series. Bjarni Pálsson, engineer at Landsvirkjun, was involved in two programmes.

Þeistareykir ehf., a company jointly owned by Orkuveita Húsavíkur, Norðurorka, Landsvirkjun and the districts Aðaldælahreppur and Reykdælahreppur, has submitted a draft for an assessment plan with respect to the planned Þeistareykir Power Plant.

The Kárahnjúkar hydroelectric station was formally launched today in the presence of many guests in Fljótsdalur station and at Hotel Nordica in Reykjavík.

Last week, Landsvirkjun issued bonds amounting to USD 75 million under the company’s European Medium-Term Notes Framework Agreement; the amount corresponds to ISK 4.5 billion. Read more

Landsvirkjun and Theistareykir have signed an agreement with Jardboranir hf regarding drilling five new exploratory boreholes in North-east Iceland next year. Read more

Yesterday, Kristján L. Möller, Minister of Communications, presented Landsvirkjun with the Icelandic Quality Award. Örn Marinósson, Deputy Managing Director, accepted it on our behalf at a formal ceremony. Read more

Landsvirkjun has decided to adopt the US dollar as its operating currency from the beginning of next year. Read more

Landsvirkjun decides to enter into negotiations with customers that intend to develop server farms in in Iceland. Read more

Kárahnjúkar Power Plant has started producing electricity using water from the Hálslón reservoir. During the next few weeks, Turbines 2–6 in the Fljótsdalur powerhouse will undergo final tests before coming into service one at a time. Read more

A notable milestone in the construction of the Kárahnjúkar Power Plant was reached today, when water from the Hálslón reservoir was diverted into the installation’s headrace tunnel. Read more

Landsvirkjun reserves the right on its own part to seek ratification of the assessment board’s conclusions. Read more

Geysir Green Energy (GGE) and Landsvirkjun have signed an agreement regarding the purchase by GGE of Landsvirkjun’s 24.35% holding in Enex. Read more

In this image, taken last Sunday, Hálslón Reservoir looks like any other lake in Iceland as seen from space. Read more

Landsvirkjun has signed an agreement to access Massachusetts Institute of Technology’s (MIT’s) extensive Industrial Liaison Program with the intercession of Reykjavík University. Read more

Thirty-four lectures covering research, preparation and construction of the structures at Kárahnjúkar, Fljótsdalur and the headrace tunnel under Fljótsdalsheidi. Read more

Work on the first borehole in the Icelandic Deep Drilling Project will commence shortly in Krafla, according to a formal announcement made at a press conference today. Further drilling will follow at Nesjavellir and Reykjanes. Read more

Landsvirkjun has decided in cooperation with the engineers and contractors involved in the project to hold a technical seminar on the 690 MW Kárahnjúkar Hydroelectric Project in September this year Read more

Landsvirkjun and Norðurál have signed an agreement in which the energy provider will supply the Grundartangi aluminium smelter with electricity in the short-term, during 2007 and 2008. Read more

Landsvirkjun recorded a profit of ISK 19,132m for the first six months of 2007. Profit from operations was ISK 5,469m, while liquidities from operations totalled ISK 4,026m.

The agreement guarantees Becromal 75 MW of power from Landsvirkjun. A new power station will not be necessary to support this sale. Read more

VistOrka, the largest shareholder in Icelandic New Energy, recently accepted delivery of 10 Toyota Prius hydrogen-powered vehicles. Landsvirkjun has decided to purchase two of these vehicles. Read more

According to a benchmarking study, by Price Waterhouse Coopers in Belgium for Invest in Iceland Agency in association with Teymi, Hitaveita Suðurnesja, Orkuveita Reykjavíkur, Farice, Siminn, and Landsvirkjun, Iceland stands out as a location for Data Centers. Read more

Landsvirkjun's 2006 financial report was approved on 12 March 2007 at a meeting of the Board of Directors. Read more

In June 2006, Landsvirkjun was invited to take part in the Global Roundtable on Climate Change (GROCC). Read more

HydroKraft Invest is the name of a new international investment company that was founded today, jointly owned by Landsvirkjun and the Iceland-based bank Landsbankinn. Read more

The General Meeting of Samorka (federation of Icelandic district-heating enterprises, electric utilities, and waterworks), held last Friday, approved a climate affairs resolution. Read more

This agreement extends a previous contract concluded in April of 2001, with the objective of nurturing basic studies in specialised areas connected to research on and exploitation of the country's energy resources and the effects of exploitation on society and the environment. Read more

The Landsvirkjun Energy Division, which is in charge of the company's electrical power production and handles the operation and maintenance of all Landsvirkjun power plants, has been awarded the Icelandic Standards EN ISO 14001 environmental management certificate. Read more

Landsvirkjun and Steingrímur Eyfjörð have concluded an agreement entailing Landsvirkjun support for Eyfjörð's participation next summer in the Venice Biennale, as a representative of Iceland. Read more

A new Landsvirkjun Board of Directors held its first meeting following the change in company ownership. Read more

Rannveig Rist and Friðrik Sophusson today signed an agreement which extends until the middle of next year the declaration of intent by Alcan and Landsvirkjun to prepare an agreement on supplying electricity for an expansion to the aluminium plant in Straumsvík. Read more

Minister of Finance Árni Mathiesen; Minister of Industry and Commerce Jón Sigurðsson; the Mayor of Reykjavík, Vilhjálmur Þ. Vilhjálmsson; and the Mayor of Akureyri, Kristján Þ. Júlíusson, signed an agreement yesterday on the Icelandic state purchasing the shares held by the municipalities of Reykjavík and Akureyri in Landsvirkjun. Read more

Landsvirkjun and the Red String Theatre Company have signed an agreement on subsidising a theatrical production called "Best in the World". Read more

Landsvirkjun has operated on the basis of a company environmental policy ever since 1997. In connection with adopting the ISO 14001 environmental management standard, the company subjected its environmental policy to a review. Read more

The filling of Hálslón reservoir started last Thursday. When the gates of the bypass tunnel were closed, the upper end of the river Jökulsá á Dal was gradually transformed into a reservoir. Read more

Today, Landsvirkjun and the Icelandic/Polish Friendship Society signed a cooperation agreement which has the objective of promoting knowledge of Polish culture in Iceland and appreciation of multiculturalism in modern Icelandic society. Read more

Landsvirkjun is underwriting the Icelandic Opera's production of Stravinsky's The Rake's Progress. Read more

Landsvirkjun has recently worked on revising its profitability assessment for Kárahnjúkar Power Plant, the construction of which is now about 75% complete. Read more

During the first six months of 2006, Landsvirkjun showed an operating loss of ISK 6.490 billion. Read more

Landsvirkjun has issued bonds for 150 million euros, amounting to ISK 14.4 billion. This is under the company's framework agreement on European Mid-Term Notes. Read more

On Alcoa's website in Brazil, information was recently posted about electricity prices for the Fjarðaál aluminium smelter, which is the smelter also associated with the name Reyðarál and located in the fjord of Reyðarfjörður, East Iceland). The Brazilian website stated that the price was USD 15 per MW. Actually, however, the base price is considerably higher. Read more

The President of Iceland, Ólafur Ragnar Grímsson, laid the cornerstone of Kárahnjúkar Power Plant today, assisted by six children who had completed outstanding projects on the subject of electricity. Read more

Last January, Landsvirkjun achieved the certification of its quality system. This certification marks a stage in the company's many years of work on quality issues. Read more

Landsvirkjun, Landsnet (IceGrid) and RARIK (Iceland State Electricity) signed an agreement last week with the Icelandic Association for Search and Rescue, ICE-SAR, concerning a variety of actions and emergency assistance. Read more

Landsvirkjun's annual consultation meeting today at Grand Hotel, Reykjavík Read more

Norðurál (Nordic Aluminium) has reached an agreement with Landsvirkjun on the company's selling Norðurál short-term power during the period of 2006 to 2008. Read more

On 10 March 2006, the company Orkusalan ehf. was established. The owners are three energy companies, RARIK (Iceland State Electricity), Westfjord Power Company and Landsvirkjun. Read more

Landsvirkjun and Alcan today signed a declaration of intent on negotiating an energy sale contract to supply an expansion of the Straumsvík aluminium smelter. Read more

Landsvirkjun has agreed with Alcan in Iceland to commence exclusive discussions on a power contract for enlargement of the Straumsvík aluminium plant. The discussions are expected to conclude before the end of this year. Read more

The Boards of Directors of these three companies have determined to set up a joint retail business in the energy market. Read more

The loan constitutes a step in the refinancing of an older, less favourable lending agreement. Read more

Today, Friðrik Sóphusson and Hrafn Jökulsson, chairman of Hrókurinn Chess Club, signed an agreement on Landsvirkjun's providing support to Hrókurinn. Read more

The number of factual mistakes made in WWF's study of Kárahnjúkar is a cause for concern. Read more

The President of Iceland has presented the Managing Director of Landsvirkjun, Friðrik Sophusson, with the 2005 Award for Best Practice in Vocational Education and Training. This Award is intended for those found to accomplish exceptional work in the field of professional training. Read more

A book on the history of Landsvirkjun was published recently, dealing with the company and its environment from 1965 to 2005. Read more

The artistic works "Frequency", by Finnbogi Pétursson, and "Mother Earth", by the Icelandic Love Corporation, were dedicated yesterday at Vatnsfell Station. Read more

Each summer, Landsvirkjun (the National Power Company) opens many of its power stations to travellers. Read more

The Icelandic Opera and Landsvirkjun have renewed their mutual cooperation agreement, with the General Director of the Opera, Bjarni Daníelsson, and the Managing Director of Landsvirkjun, Friðrik Sophusson, signed the contract at the Icelandic Opera recently. Read more

Landsvirkjun held its yearly consultation meeting today at Hotel Nordica, Reykjavík. The occasion was also a major birthday: 40 years after the founding of Landsvirkjun. Read more

Seven study grants were awarded during the consultation meeting held by Landsvirkjun today. These grants are intended to assist students at the master's and doctoral levels in working on their final projects. Read more

At a Landsvirkjun consultation meeting today, the General Manager of Vottun hf., Kjartan J. Kárason, presented the Managing Director of Landsvirkjun, Friðrik Sophusson, with a quality systems certificate, which recognises the Landsvirkjun Energy Division as operating a quality system that complies with IST EN ISO 9001:2000 standards. Read more

It is considered certain that two foreign scientific funds will contribute money amounting to some 260 million ISK for the Iceland Deep Drilling Project. This was brought out in a speech by the Managing Director of Landsvirkjun, Friðrik Sophusson, at the company's annual general meeting today. In addition to reporting on company operations, Friðrik Sophusson spoke about measurements of glacier mass balance. Read more

At the Landsvirkjun consultation meeting today presentations were given of the Landsvirkjun/Alcoa Sustainability Project in East Iceland and of the green certificates for carrying out obligations of the Kyoto Protocol. Read more

Landsvirkjun consultants believe that in all major aspects, the dam design assumptions for Kárahnjúkar Power Plant continue to prove themselves regarding newly available information on area geology, such as faults and the risk of earthquakes. This matter was discussed at a company board meeting today. Read more

In 2004, Landsvirkjun’s operating profit was 7.195 billion ISK. The company’s total assets at end of year were 154.7 billion ISK, with an equity ratio of 33.2%. Read more

The credit rating provider Standard & Poor’s (S&P) announced an increase in the Landsvirkjun credit rating yesterday, with the rating in regard to long-term liabilities in foreign currencies rising from A+ to AA-. Read more

The company IceGrid hf. formally commenced operation at the turn of the year. The owners of the new enterprise are Landsvirkjun, Iceland State Electricity and the Westfjord Power Company. Read more

At a conference held yesterday by Supporters of Striking the Balance, the Icelandic "Weights that Tip the Scale" award was presented for the second time, honouring contributions that support the balancing of work and private life in both words and deeds. Read more

On 12 November, 2004, Landsvirkjun signed a loan contract amounting to EUR 50 million (some 4.3 billion ISK) with the European Investment Bank (EIB) in Luxembourg. Read more

A major stage in the introduction of quality management was achieved by Landsvirkjun at the beginning of November, when the Energy Division in its entirety received certification according to the ISO 9001:2000 standard. Read more

In the first six months of 2004, Landsvirkjun operations showed a loss of ISK 645 million, while the same period last year had presented a profit of ISK 1,480 million. Read more

Thousands of Icelandic and foreign guests are familiar with the Landsvirkjun power plants after visiting them in recent years. During the summer, we invite guests to open-house days, exhibitions, and artistic events at our stations throughout the country. Read more

After thorough work of the negotiating committee commissioned by Landsvirkjun and the united district of Skeiða- og Gnúpverjahreppur, agreement has been reached on a plan for the Norðlingaalda Diversion. Read more

The Landsvirkjun Scholarships were presented for the first time today. These scholarships are intended to support postgraduates at the master’s and doctoral levels who are working on their final dissertations. It is anticipated that Landsvirkjun will present its scholarships annually in the future. Read more

The Minister for the Environment has issued a ruling on the assessment of environmental impact of hydropower plants in the lower Þjórsá river. Construction of the power plants at Núpur and Urriðafoss was accepted, subject to conditions presented in the ruling by the National Planning Agency. The Minister for the Environment added a number of conditions in her ruling. Read more

The first contract on electricity transmission which has been completed within the new business environment in Iceland's electrical affairs was signed today. The agreement is between the Transmission Division of Landsvirkjun, on the one hand, and Suðurnes Regional Heating and Reykjavík Energy on the other. Read more

In 2003 Landvirkjun’s operation achieved a profit of ISK 1,551 m, and net cash provided by operating activities amounted to ISK 5,601 m. At the end of the year, the company’s total assets were ISK 134.5 billion and the equity ratio was 30.6%. Read more

The National Planning Agency has ruled on the environmental impact of Bjarnarflag Power Plant and Bjarnarflag Line 1, in the district of Skútustaðahreppur. Involved are an electric power station of up to 90 MW and a high-voltage line of 132 kV. The project is accepted subject to conditions. Read more

Today, Thursday 22nd January 2004, in a verdict of the Icelandic Supreme Court, The National Power Company (Landsvirkjun) and the Icelandic State were acquitted of all claims of Icelandic Nature Conservation Association (INCA) an three other plaintiffs regarding the legitimacy of the Environmental Impact Assessment (EIA) procedure of the Kárahnjúkar Power Plant. Read more

An article by freelance journalist Susan De Muth containing sweeping criticism of the Kárahnjúkar project and Icelandic society in general published on November 29th in the Guardian Weekend supplement of English newspaper The Guardian, has provoked a strong reaction in Iceland. Read more

Landsvirkjun and VA TECH Escher Wyss GmbH signed a Contract Agreement for Contract KAR-30 Electomechanical Equipment, today. Read more

A District Court has ruled on behalf of Landsvirkjun and the Icelandic State in the case brought by the Nature Conservation Society of Iceland and others, demanding that the Ruling by the Minister for the Environment on Kárahnjúkar Power Plant be declared invalid. Read more

Hydrogen and renewable energy. Conference in Reykjavík 24-25th of April. How will hydrogen be available to the public in the near future? Read more

Landsvirkjun’s annual consultation meeting was held today with Kárahnjúkar Power Plant as its central topic. Various aspects of the construction project were presented and prospective work was shown in three-dimensional graphics. Read more

Mr Fridrik Sophusson, Managing Director of Landsvirkjun, and Mr Gianni Porta, Project Manager at Impregilo, today signed contracts on the construction of the Kárahnjúkar dam and headrace tunnel. The contracts amount to about ISK 38 billion excluding VAT and have been signed in the wake of the confirmation of a power contract between Landsvirkjun and Alcoa last Sunday. Read more

Over one thousand people were in attendance at the signing of Alcoa’s contracts with the Icelandic government, Fjarðabyggð and Landsvirkjun, which took place in Reyðarfjörður on Saturday. The signing itself took about 40 minutes, as the contracts numbered 14, some both in Icelandic and English, and there were 42 documents altogether. Read more

After a prequalification process six companies have been selected to take part in a tender for electro- and hydromechanical work which is part of the Kárahnjúkar hydroelectric project. Read more

Landsvirkjun requests tenders for constructing the power station of Kárahnjúkar Hydroelectric Plant in Fljótsdalur valley, Iceland. Read more

At a meeting this morning the Landsvirkjun Board of Directors agreed to authorize the Managing Director to sign and present to the Italian contracting firm Impregilo a letter of authorization for the construction of the Kárahnjúkar dam and intake tunnel for the Kárahnjúkar hydropower station. Read more

Alcoa and Landsvirkjun, the National Power Company of Iceland, finished negotiating a Power Contract today for a new greenfield 320,000 tpa aluminum smelter at Reydarfjordur, East Iceland. Read more

Landsvirkjun received the following bids for the projects Kárahnjúkar dam (KAR 11) and headrace tunnel (KAR 14).  Read more

On Nov. 20, 2002, Standard & Poor's Ratings Services revised its local and foreign currency outlooks on the Iceland-based electricity transmission and generation company Landsvirkjun to stable from negative following a similar outlook revision on the Republic of Iceland (local currency AA+/Stable/A-1+; foreign currency A+/Stable/A-1+). Read more

Landsvirkjun recently signed an agreement with Statoil and Statnett of Norway to conduct a feasibility study for the laying of a submarine cable between Iceland and Norway, which would be completed in the space of half a year. Read more

Landsvirkjun has decided to explore new and unconventional ways to lower operational and development costs for the electricity transmission network.

On September 2 the Minister of Industry grated Landsvirkjun a permit to build a hydropower facility of up to 750 MW at Kárahnjúkar. Read more

The Planning Agency has approved the construction of the Nordlingaalda reservoir at an elevation of 575 and 578 m a.s.l., as presented in documents submitted by the developer, with six conditions. Read more

Landsvirkjun and Nordurál have signed a memorandum of understanding on delivery of power for the first phase in the expansion of Nordurál’s Grundartangi smelter to an eventual 240,000 tpy, which will involve an expansion from 90,000 to 180,000 tpy.

The building of a smelter in Reydarfjordur and the Karahnjukar hydropower station have been in the pipeline for some time. Read more

A memorandum of understanding has been signed by the Icelandic government, Landsvirkjun (The National Power Company of Iceland) and Alcoa, formalizing their cooperation in building a low emission aluminium smelter in Eastern Iceland. Read more

Hydro has informed its partners that the company is not in a position to make a final decision on the project on 1 September 2002 Read more