Landsvirkjun's interim financial statements for Q1 2025 have been published.

Solid operations in challenging weather conditions

Landsvirkjun has today successfully issued green bonds in the U.S. private placement market, totalling USD 150 million. The original issuance target was USD 125 million, but strong investor interest led to the offering being upsized and closed at USD 150 million.

Landsvirkjun Successfully Issues Green Bonds in the U.S. Market

Landsvirkjun has today successfully issued green bonds in the U.S. private placement market, totalling USD 150 million.

Landsvirkjun has finalised an agreement with the construction company Ístak ehf. for various construction work at the new wind power station Vaðölduver, the first in Iceland. The deal is worth approximately USD 53 million. The project is expected to commence in May and conclude by summer 2027. 

Construction at Vaðölduver starts - Ístak commisioned

Landsvirkjun has finalised an agreement with the construction company Ístak ehf. for various construction work at the new wind power station Vaðölduver, the first in Iceland.

Landsvirkjun received a request for information (RFI) from the EFTA Surveillance Authority (ESA) in June 2024, in which information and documentation were requested regarding the potential sale of electricity by Landsvirkjun to new customers.

Landsvirkjun's Annual General Meeting approved the Board of Directors'
recommendation of approximately USD 195 million to the Icelandic state
treasury. The total dividend payments from 2021 to 2024 are about USD 703 million.

Landsvirkjun's Dividend Payment of USD 195 Million

Landsvirkjun's Annual General Meeting approved the Board of Directors'
recommendation of approximately USD 195 million to the Icelandic state
treasury.

Landsvirkjun has introduced a new company strategy focused on e-fuels and climate-related business development. The strategy establishes a framework for the development of these activities and gives guidelines for energy sales to sectors engaged in such projects. 

New Strategy on E-fuels and Climate-Related Business Development 

Landsvirkjun has introduced a new company strategy focused on e-fuels and climate-related business development. 

Landsvirkjun Power and Growler Energy are pleased to announce the formation of a new renewable energy company in Newfoundland and Labrador - Vinland Power. 

Landsvirkjun's Financial Statements for year 2024 have been published. The company’s financial position is stronger than ever and the Board intends to propose a dividend to the state amounting to USD 180 million this year.

Solid operations in challenging conditions

Landsvirkjun's Financial Statements for year 2023 have been published. 

Landsvirkjun's energy-related innovation projects have been a vitamin injection for business life in regional Iceland, as in the last five years, projects related to Eimur in the North, Orkídea in the South, and Blámi in the Westfjords have received grants in the amount of more than ISK 1.7 billion.

ISK 1.7 billion towards innovation projects in regional Iceland

Landsvirkjun's energy-related innovation project has been a vitamin injection for business life in regional Iceland, as in the last five years, projects related to Eimur in the North, Orkídea in the South, and Blámi in the Westfjords have received grants in the amount of more than ISK 1.7 billion.

Búrfell II Power Station came online on 2 July 2018 and is one of Landsvirkjun’s seven hydropower stations in the Þjórsá Area. The Búrfell II Power Station is 300 m underground at Sámstaðaklif.

Þeistareykir Geothermal Station came online on 17 November 2017 and is in the southern part of the heath Reykjaheiði.

Búðarháls Power Station came online on 7 March 2014 and is one of Landsvirkjun’s seven hydropower stations in the Þjórsá Area. Búðarháls Power Station is in the west of Mt. Búðarháls.

Hafið Wind Farm was launched on 14 February 2013 and is north of Mt. Búrfell.

Fljótsdalur Power Station came online on 30 November 2007 and is underground at Mt. Valþjófsstaðarfjall.

Vatnsfell Power Station came online on 9 November 2001 and is one of Landsvirkjun’s seven hydropower stations. Vatnsfell Power Station is close to its reservoir Vatnsfellslón.

Sultartangi Power Station came online in November 1999 and is one of Landsvirkjun’s seven hydropower stations in the Þjórsá Area. Sultartangi Power Station is in the northeast of Búrfell Power Station, close to the road Þjórsárdalsvegur.

Blanda Power Station came online in the autumn of 1991 and is in the Northwest. 

Hrauneyjafoss Power Station came online on 21 October 1981 and is one of Landsvirkjun’s seven hydropower stations in the Þjórsá Area. Hrauneyjafoss Power Station is near the road Sprengisandsleið (F26) at the edge of Iceland’s highlands.

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