Two new executive vice presidents have been appointed to Landsvirkjun, Ásbjörg Kristinsdóttir and Jóna Bjarnadóttir.

The CEO of Landsvirkjun signed a memorandum of understanding on February 23^rd on behalf of the company, launching negotiations for the sale of Landsvirkjun’s shares in Landsnet to the government. A change in ownership of Landsnet has been underway for some time.

Results reflect the global pandemic.

Landsvirkjun and Rio Tinto Iceland have agreed on amending the power purchase agreement (PPA) between the two companies dating back to 2010, thereby allowing the Straumsvik aluminum smelter to continue operating with a stronger competitive position.

“Iceland has everything it takes to make the shift from energy dependence to energy independence. Our goal is to be among the first in the world to achieve zero net carbon emissions or at least, by no later than by 2050. Petrol and diesel-powered vehicles must become a part of our history, replaced by alternatives such as electricity and hydrogen. Taking these steps will enable us to fulfil society’s future energy needs in a sustainable manner” said Þórdís Kolbrún Reykfjörð Gylfadóttir, Minister of Tourism, Industry, and Innovation, at Landsvirkjun’s open meeting on new, green energy opportunities.

A cooperative project on energy transition and energy-related innovation.

The CDP has recognised Landsvirkjun as a leading company in the worldwide battle against climate change, earning a grade of A- on their Climate list. CDP is a non-profit organisation, that runs the global disclosure system, gathering and distributing information and advising on continuous improvement on environmental issues. 

Economic conditions continue to affect operations but net debt continues to decrease.

The aluminium and data center industries in Iceland enjoy competitive electricity prices that do not negatively impact the energy-intensive industries’ competitiveness in general. These were the main conclusions of the report compiled by the Fraunhofer Institute for Systems and Innovation Research ISI at the request of the Ministry of Industries and Innovation in Iceland. Landsvirkjun’s CEO, Hörður Arnarson said “this confirms what we already firmly believe, that we offer green energy at competitive prices. We are pleased that this has now been confirmed by an independent expert.”  

Tinna Traustadóttir and Ríkarður S. Ríkarðsson have been appointed as the Executive Vice Presidents of the new Sales and Customer Service and  Business Development and Innovation. The Marketing and Business Development Division will no longer exist. 

Landsvirkjun, the National Power Company of Iceland, and the Port of Rotterdam have signed a Memorandum of Understanding ("MOU”) to perform a pre-feasibility study of exporting green hydrogen from Iceland to Rotterdam. According to the MOU, the parties also agree to the exchange of knowledge, with the aim of exploring new opportunities of cooperation related to hydrogen.

Among the first companies globally to adopt a new approach to finance green assets.

Landsvirkjun’s results for the first half of the year reflect the difficult economic conditions throughout the world.

Hörður Arnarson, CEO, Landsvirkjun, explains how the power company's ongoing innovation allows it to maximize the sustainable harvest of natural resources and add value to the economy in an interview with Country Reports in partnership with Newsweek.

" The current economic situation has shown us that supporting innovation and improving the utilisation of natural resources in Iceland is more important than ever" says Kristín Linda Árnadóttir, Deputy CEO of Landsvirkjun.

Landsvirkjun, Norðurorka (Utility Company), Húsavík Energy and SSNE have signed a new contract to continue their cooperation on the EIMUR innovation project which was formally established in 2017.

Landsvirkjun has started the process of developing a hydrogen production facility at Ljósifoss Hydropower Station.

Acceptable first quarter results under challenging external conditions.

At Landsvirkjun‘s board meeting, on April 20, 2020, the board of directors agreed on a new dividend policy for the company.

Landsvirkjun has exercised an issuer call option to redeem a bond on 28 October 2020 of the amount of USD 50,000,000.