Renewable energy in a sustainable world
Satisfactory results despite challenging external circumstances
Landsvirkjun’s operations were affected by difficult external circumstances in 2019. Our energy-intensive customers experienced operational disturbances and a fall in product prices. We have continued to decrease our net debts and our credit rating increased this year.
Operating revenues
Ebitda
Cash flow from operations
Electricity sales
Free cash flow
Profit before unrealised items
Net debt
Equity ratio
CEO and Chairman of the Board statements
“Every new generation brings a wave of innovation to the workplace, paving the way for progress.”
Hörður Arnarson, CEO
“All of these initiatives are designed to preserve our natural resources for future generations.”
Jónas Þór Guðmundsson, Chairman of the Board
A grassroots movement
The equality policy and improvement projects already in place reflect our intention to foster a corporate culture based on equality, inclusivity and diversity. We are not involved in an ‘equality drive’, but rather a collective effort to support the incremental evolution of our workplace culture. Landsvirkjun received the Gender Equality Encouragement Award in 2019.
Climate accounting
Carbon footprint
Rate of Clean Energy
cars of fleet
Reduction in emissions
due to air travel
Reduction in emissions due to
electricity generation of geothermal locations
How can we become carbon neutral?
Climate action plan
We are committed to preventing new emissions, finding new ways to reduce emissions and increasing sequestration. We intend to become carbon neutral in 2025.
Internal carbon prices
Internal carbon prices create incentives to make financial and operational decisions, based on low-carbon solutions.
Climate accounting
Landsvirkjun has measured its carbon footprint for over a decade, alongside other environmental research.
A growing data center customer base
The data center industry is one of the fastest growing industries in the world as the demand for high-performance computing (HPC) is increasing rapidly. Sales to data center customers increased by 50% between 2018 and 2019, or from approx. 350 GWh to 520 GWh.
Stable energy production
We operate 15 hydropower stations, three geothermal power stations and two wind turbines in five areas of operation, all over Iceland. Our power stations represent milestones in Icelandic energy production history, continually answering the demand for electricity and domestic heating for homes and energy-intensive industry.
More on energy production
Communication with local communities
The Þeistareykir Geothermal Power Station in Northeast Iceland received this year’s International Project Management Award (IPMA) or Global Project Excellence Award. The project was considered a benchmark for stakeholder management with a unified project team and “strong orientation towards sustainability ethical behaviour, support of human rights and social responsibility”. Landsvirkjun is honoured that the project received international attention.
More on the Global Excellence Award