Alcoa and Landsvirkjun, the National Power Company of Iceland, finished negotiating a Power Contract today for a new greenfield 320,000 tpa aluminum smelter at Reydarfjordur, East Iceland.
Landsvirkjun received the following bids for the projects Kárahnjúkar dam (KAR 11) and headrace tunnel (KAR 14).
On Nov. 20, 2002, Standard & Poor's Ratings Services revised its local and foreign currency outlooks on the Iceland-based electricity transmission and generation company Landsvirkjun to stable from negative following a similar outlook revision on the Republic of Iceland (local currency AA+/Stable/A-1+; foreign currency A+/Stable/A-1+).
Landsvirkjun recently signed an agreement with Statoil and Statnett of Norway to conduct a feasibility study for the laying of a submarine cable between Iceland and Norway, which would be completed in the space of half a year.
Landsvirkjun has decided to explore new and unconventional ways to lower operational and development costs for the electricity transmission network.
On September 2 the Minister of Industry grated Landsvirkjun a permit to build a hydropower facility of up to 750 MW at Kárahnjúkar.
The Planning Agency has approved the construction of the Nordlingaalda reservoir at an elevation of 575 and 578 m a.s.l., as presented in documents submitted by the developer, with six conditions.
Landsvirkjun and Nordurál have signed a memorandum of understanding on delivery of power for the first phase in the expansion of Nordurál’s Grundartangi smelter to an eventual 240,000 tpy, which will involve an expansion from 90,000 to 180,000 tpy.
The building of a smelter in Reydarfjordur and the Karahnjukar hydropower station have been in the pipeline for some time.
A memorandum of understanding has been signed by the Icelandic government, Landsvirkjun (The National Power Company of Iceland) and Alcoa, formalizing their cooperation in building a low emission aluminium smelter in Eastern Iceland.
Hydro has informed its partners that the company is not in a position to make a final decision on the project on 1 September 2002
An open meeting presenting the details of a new action plan.
Landsvirkjun’s results for the first nine months of the year 2019.
According to Moody's, the upgrade reflects the continued improvement in the company’s credit profile.
Outstanding companies build their business on a strong foundation and are focused on the interests of investors and shareholders.
Kristín Linda has participated in various international co-operations on environmental issues.
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.
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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.
