Strong cash generation and a historically high equity ratio.
Follows successful placing of a USD 200m green bond in 2018
The original power contract between the companies dates from the year 1975.
Net debt continues to decrease and the equity ratio strengthens.
The assets and transfer of the shares have negligible effect on the balance sheet and operations of Landsvirkjun.
Jónas Þór Guðmundsson re-elected chairman of the board.
S&P Global Ratings revises Landsvirkjun’s rating outlook from stable to positive on improved financial position.
Landsvirkjun owns 64.7% of Landsnet.
The Green Bond Pioneer Awards are the premier annual recognition of achievement by organisations, financial institutions, governments and individuals who have demonstrated leadership through pioneering initiatives and green issuance and have provided positive examples of climate resilient and low carbon investment in a diverse range of nations and markets.
Another record year for power generation and operating performance.
Operations have already begun in Blönduós and construction work to expand the data center is currently underway.
Revenue, EBITDA and profit increase between periods.
Landsvirkjun is number three on Creditinfo‘s list.
The EFTA Surveillance Authority (ESA) has concluded that state guarantees for Landsvirkjun's hedging derivatives did not involve state aid.
European Commission (EC) competition approval process has taken longer than anticipated.
Revenue, EBITDA and profit increase between periods.
Landsvirkjun has prepaid a loan with a state guarantee of collection with a nominal amount of 34 million USD.
Highest revenue quarter recorded in financial history of the Company.
The buyback reflects Landsvirkjun‘s strong financial position and is a part of reducing the company‘s debt, interest expenses and foreign exchange risk.
Both unit generator transformers of the Sultartangi Station have broken down due to damages to the insulation of secondary coils.
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.
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.
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.
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.
The Kárahnjúkar hydroelectric station was formally launched today in the presence of many guests in Fljótsdalur station and at Hotel Nordica in Reykjavík.
Landsvirkjun and Theistareykir have signed an agreement with Jardboranir hf regarding drilling five new exploratory boreholes in North-east Iceland next year.
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.
Landsvirkjun decides to enter into negotiations with customers that intend to develop server farms in in Iceland.
Landsvirkjun has decided to adopt the US dollar as its operating currency from the beginning of next year.
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.
Landsvirkjun reserves the right on its own part to seek ratification of the assessment board’s conclusions.
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.
Geysir Green Energy (GGE) and Landsvirkjun have signed an agreement regarding the purchase by GGE of Landsvirkjun’s 24.35% holding in Enex.
In this image, taken last Sunday, Hálslón Reservoir looks like any other lake in Iceland as seen from space.
Landsvirkjun has signed an agreement to access Massachusetts Institute of Technology’s (MIT’s) extensive Industrial Liaison Program with the intercession of Reykjavík University.
Thirty-four lectures covering research, preparation and construction of the structures at Kárahnjúkar, Fljótsdalur and the headrace tunnel under Fljótsdalsheidi.
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.