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.
Landsvirkjun has decided in cooperation with the engineers and contractors involved in the project to hold a technical seminar on the 690 MW Kárahnjúkar Hydroelectric Project in September this year
Landsvirkjun and Norðurál have signed an agreement in which the energy provider will supply the Grundartangi aluminium smelter with electricity in the short-term, during 2007 and 2008.
Landsvirkjun recorded a profit of ISK 19,132m for the first six months of 2007. Profit from operations was ISK 5,469m, while liquidities from operations totalled ISK 4,026m.
The agreement guarantees Becromal 75 MW of power from Landsvirkjun. A new power station will not be necessary to support this sale.
VistOrka, the largest shareholder in Icelandic New Energy, recently accepted delivery of 10 Toyota Prius hydrogen-powered vehicles. Landsvirkjun has decided to purchase two of these vehicles.
According to a benchmarking study, by Price Waterhouse Coopers in Belgium for Invest in Iceland Agency in association with Teymi, Hitaveita Suðurnesja, Orkuveita Reykjavíkur, Farice, Siminn, and Landsvirkjun, Iceland stands out as a location for Data Centers.
Each summer, Landsvirkjun (National Power) opens many of its power stations to travellers. This year, five stations are open to the public, as well as a Visitor Centre in the Végarður community centre in Fljótsdalur, where the Kárahnjúkar Hydropower Project is introduced.
Landsvirkjun's 2006 financial report was approved on 12 March 2007 at a meeting of the Board of Directors.
In June 2006, Landsvirkjun was invited to take part in the Global Roundtable on Climate Change (GROCC).
HydroKraft Invest is the name of a new international investment company that was founded today, jointly owned by Landsvirkjun and the Iceland-based bank Landsbankinn.
The General Meeting of Samorka (federation of Icelandic district-heating enterprises, electric utilities, and waterworks), held last Friday, approved a climate affairs resolution.
This agreement extends a previous contract concluded in April of 2001, with the objective of nurturing basic studies in specialised areas connected to research on and exploitation of the country's energy resources and the effects of exploitation on society and the environment.
The Landsvirkjun Energy Division, which is in charge of the company's electrical power production and handles the operation and maintenance of all Landsvirkjun power plants, has been awarded the Icelandic Standards EN ISO 14001 environmental management certificate.
Landsvirkjun and Steingrímur Eyfjörð have concluded an agreement entailing Landsvirkjun support for Eyfjörð's participation next summer in the Venice Biennale, as a representative of Iceland.
A new Landsvirkjun Board of Directors held its first meeting following the change in company ownership.
Rannveig Rist and Friðrik Sophusson today signed an agreement which extends until the middle of next year the declaration of intent by Alcan and Landsvirkjun to prepare an agreement on supplying electricity for an expansion to the aluminium plant in Straumsvík.
Minister of Finance Árni Mathiesen; Minister of Industry and Commerce Jón Sigurðsson; the Mayor of Reykjavík, Vilhjálmur Þ. Vilhjálmsson; and the Mayor of Akureyri, Kristján Þ. Júlíusson, signed an agreement yesterday on the Icelandic state purchasing the shares held by the municipalities of Reykjavík and Akureyri in Landsvirkjun.
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.
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.