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Stefán Pétursson appointed Managing Director of HydroKraft Invest hf.

January 29, 2008


 Stefán Pétursson, Managing Director of HydroKraft Invest hf.

Elected to the Board of Directors at the Annual General Meeting of HydroKraft Invest hf., held today, were Halldór J. Kristjánsson, Chairman, Ívar Gudjónsson and Pétur Örn Sverrisson for Landsbankinn and Bjarni Bjarnason, Vice-Chairman, Friðrik Sophusson and Björn Stefánsson for Landsvirkjun.
Stefán Pétursson, previously Manager of the Finance Division of Landsvirkjun over the past few years, has been appointed Managing Director of the company. Stefán has a degree in Business Economy from the University of Iceland and an MBA degree from Babson College in Boston.
HydroKraft Invest hf. is an investment company owned by Landsbankinn Vatnsafl and Landsvirkjun Power. The object of the company is to invest in restructuring projects and new construction projects in the field of renewable energy. The shareholders have agreed to provide the company with up to ISK 10bn in equity insofar as investment projects in coming years so warrant. Since the establishment of the company in March 2007, HydroKraft Invest has sought opportunities internationally, particularly in Southeast Europe. The company is currently examining projects in several countries.

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