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Landsvirkjun and Norðurál sign short term energy supply contract

August 27, 2007

Electricity supplies began earlier in the year, and are being used to bring forward the opening of the extension to Norðurál’s plant, which is now scheduled for completion later this year.

Norðurál had been negotiating with Orkuveita Reykjavíkur concerning the provision of electricity for this phase from November 2008, when the new contract with Landsvirkjun runs out.

Both Landsvirkjun and Norðurál agree that this contract was a highly satisfactory business opportunity for both companies. Landsvirkjun’s generating capacity is currently good and the flow into the reservoirs is at slightly above-average levels.

Örn Marinósson, Landsvirkjun's Deputy Managing Director (left) and Ragnar Guðmundsson, Managing Director of Norðurál, after signing the contract.

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