Reputation of Icelandic Energy Projects at Risk? Skip to content

Reputation of Icelandic Energy Projects at Risk?

By Iceland Review

CEO of national energy company Landsvirkjun fears that the turmoil around the controversial merger of Reykjavík Energy Invest (REI) and Geysir Green Energy (GGE) has tarnished the reputation of Icelandic energy projects abroad.

Interviewed by national radio RÚV, Fridrik Sophusson, the CEO of Landsvirkjun, was critical of the debacle surrounding the merger and feared its consequences for future projects of the energy companies abroad.

Such enterprises are of vital importance for the companies since they might have run out of domestic projects within the next five years. That could render valuable intellectual property of the companies useless.

Landsvirkjun owns and operates most of Iceland’s biggest power stations, such as Kárahnjúkar Dam. Landsvirkjun Invest, its subsidiary and Landsbanki Bank jointly own the investing company HydroKraft Invest which specializes in energy projects abroad.

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