Hér er fjallað um starfsemi Landsvirkjunar á árinu 2025, þar sem reyndi á rekstur, áætlanir og viðbrögð fyrirtækisins við krefjandi aðstæðum. 

Farið er yfir helstu þætti í rekstri orkukerfisins, fjármál, framkvæmdir, sölu og þjónustu, sem og samskipti við viðskiptavini og samfélagið. 

LV_AnnualReport_2025_V9.pdf

LV_SustainabilityStatement_2025.pdf

Landsvirkjun's Climate Accounts 2025.pdf

Financial statements Landsvirkjun 2025.pdf

Landsvirkjun’s operations performed well in 2025, despite challenging conditions and some uncertainty in the operating environment. 

Ríkarður Ríkarðsson, Executive Vice President of Business Development and Innovation, discusses the energy needs of Icelandic society.

The energy needs of society and industry are growing, driven among other things by the energy transition, population growth and increased economic activity. There is scope for further industrial development, including data centres, land-based aquaculture, food production and existing energy-intensive industries.

“Electricity demand will increase both due to the energy transition and continued growth in society.”

What should Energy be used for? | Annual Report 2025

Jóna Bjarnadóttir, Executive Vice President of Community and Environment, discusses permitting.

The permitting process for energy development is important to ensure that work is carried out properly, but it has become complex and slow. This can have negative effects on living standards in the country, the energy transition, industrial development and electricity security.

“Delays Affect Electricity Security and the Energy Transition”

Licensing of Power Projects | Annual Report 2025

Valur Knútsson, Project Manager in New Construction, leads the development of the topping unit at Þeistareykir.

One of the most cost-effective power development options in the country is at Þeistareykir, where so-called excess pressure will be utilised without drilling new wells. This will make it possible to increase the station’s generation by 25–30% annually.

“This Is, in Effect, Found Capacity and Found Energy”

Peak Turbine at Þeistareykir | Annual Report 2025

Kristján Guðmundsson, Head of International Projects, discusses the Company’s international activities.

Within the company, there is more than 60 years of experience in the development, construction and operation of hydropower and geothermal power plants. This experience gives Landsvirkjun a competitive advantage and a unique position, as such expertise is not widely available abroad, where few power plants have been built in recent decades.

International Projects | Annual Report 2025

Haraldur Hallgrímsson, Head of Business Development, discusses new business opportunities.

Future electricity sales are built on the work and preparation undertaken today. Landsvirkjun is working to develop new business opportunities and identify ways to create new value through improved utilisation of the existing energy system.

Preparing for the Energy Sales of the Future

Business Development and Innovation | Annual Report 2025

This section looks ahead and discusses the projects and challenges facing the energy sector in the coming years.

It outlines society’s future energy needs, the opportunities for the energy transition, and the pathways Landsvirkjun sees to meet the demands of the future.

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