Landsvirkjun

Landsvirkjun, the National Power Company of Iceland, is Iceland's largest electricity generator.[1] Landsvirkjun operates 21 power plants in Iceland concentrated across five main operational areas.[2]

History

Landsvirkjun was founded on 1 July 1965 by the state of Iceland and the city of Reykjavík.[3] The city of Reykjavík contributed to the company three power stations on the Sog River.[4] Shortly after its founding, construction on the Búrfell hydropower station began. From 1965 until 2005 the purpose of Landsvirkjun was to produce and distribute high-voltage electricity.

The municipality of Akureyri acquired a 5% share in Landsvirkjun in 1983 and became the third owner.[5] Three hydropower stations on the Laxá River previously owned by the municipality of Akureyri were merged into Landsvirkjun.[6][4]

The hydropower stations Búrfell, Sigalda, Hrauneyjafoss, Blanda, Sultartangi, Vatnsfell, and Fljótsdalsstöð were all built by Landsvirkjun. The geothermal power station Krafla came under Landsvirkjun's ownership in 1985.

Through a new electricity act in 2005, the company's Transmission Division became Landsnet, an independent limited company and a subsidiary of Landsvirkjun.[7] Landsnet owns and operates the Icelandic transmission system and manages the country's electricity system.[8] In 2007 the state of Iceland took over the ownership shares of Akureyri and Reykjavík in Landsvirkjun, turning it into a public partnership, fully owned by the state of Iceland.[9] In December 2012, Landsvirkjun erected two wind turbines, in an area known as Hafið, within the construction area of Búrfell Power Station, in the south of Iceland. The turbines have a total of 2 MW of installed power.

Power stations

Landsvirkjun has 21 power stations, of which 15 are hydropower stations, three geothermal power stations and two wind power field.

Subsidiaries

Landsvirkjun has five subsidiaries:

• Landsnet (64.7% of shares are owned by Landsvirkjun) is the transmission system operator (TSO) of the Icelandic high-voltage electricity grid.
• Landsvirkjun Power uses Landsvirkjun's knowledge to conduct consultancy projects in matters related to energy on the international market.
• Orkufjarskipti provides telecommunication services.
• Icelandic Power Insurance is a captive insurance company, which handles insurance and reinsurance for Landsvirkjun's power stations and, in addition, supervises insurance for construction projects.
• Hraunaveita ehf. took on specific tasks in connection with the Kárahnjúkar Project, but now has no operations.

See also

• List of power stations in Iceland

External links