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Landsvirkjun and Alcan sign declaration of intent

January 27, 2006

During the past few years, Alcan has been working towards increasing the capacity of the Straumsvík smelter by around 280 thousand tonnes, with the aim of completing construction and commencing operations in 2010. For this purpose, Alcan and Reykjavík Energy had already signed a declaration of intent on a portion of the electricity supplies required for the expansion, a portion equalling about 40% of the total energy requirements.

The remainder of the power requirements corresponds to the capacity of Búðarháls Power Plant in the river Tungnaá and of the Lower-Þjórsá power plants whose environmental assessment has already been approved. Landsvirkjun will not involve itself in discussions with other energy buyers regarding the sale of electricity from these power options so long as the above talks are ongoing.


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