On the right path
Landsvirkjun's operations were successful in 2018. Energy sales reached an all-time high or 14.8 TWh. Revenues were the highest in the Company's history and net debt decreased by USD 157 million this year.
Cash flow from operations
Free cash flow
Profit before unrealised items
Landsvirkjun's 18th power station, Búrfell II Hydropower Station, was commissioned during the year, and the second phase of the Þeistareykir project was completed. Krafla Geothermal Station celebrated its 40th year of operations this year.
Búrfell Hydropower Station II:
Landsvirkjun’s 18th power station
Þeistareykir Geothermal Station:
Second phase completed
Krafla Geothermal Station:
40 years of successful operations
Percentage of clean-energy vehicles
in our car fleet
Decrease in emissions
due to air travel
Decrease in emissions due to
electricity production from geothermal resources pr. MWh
We actively support the United Nation’s Sustainability Goals and put a special emphasis on three of the goals in our operations.
Landsvirkjun has outlined a three-year project to show its commitment to supporting gender equality within the Company.
Every human being should be ensured access to affordable, reliable, sustainable and modern energy by 2030.
Global business is now expected to do everything possible to prevent climate change.
Emissions come at a cost
Landsvirkjun raised internal carbon prices in 2018, which are the cost criteria for greenhouse gas emissions. Greenhouse gas emissions are now registered as costs in the Company's operations. This supports the Company's goal of becoming carbon neutral in 2030.
Excess demand for green certificates
The demand for green certificates issued by Landsvirkjun in the US market was seven-fold in 2018.
Diverse business opportunities
Renewable energy sources have become part of Iceland's image and the sustainable use of natural resources is at the centre of the many future business opportunities ahead.
A diminishing carbon footprint
Búðarháls Hydropower Station’s carbon footprint measures 1.5 g of CO2 -eq//kWh, while the average within Europe is 417 g of .CO2-eg//kwh
A higher international grade
Our rating with the international organisation CDP rose from C to B in 2018, which (according to CDP's rating system) means that the Company has a good overview of climate issues in its operations and manages them effectively.