Reykjavík Energy Invest Recruits Former Glitnir CEO Skip to content

Reykjavík Energy Invest Recruits Former Glitnir CEO

Reykjavík Energy Invest (REI), owned by Reykjavík Energy Company (OR) announced yesterday that former CEO of Glitnir Bank Bjarni Ármansson had been appointed the chairman of the company’s board.

REI plans to raise ISK 50 billion (USD 757 million, EUR 549 million) to fund international geothermal energy projects, ruv.is reports.

The projects include obtaining permissions for researching and harnessing geothermal areas in different parts of the world, constructing geothermal power plants and investing in power plants that have already been constructed.

According to Morgunbladid, REI will sign a letter of intent with Indonesia’s largest energy company today.

Gudmundur Thóroddsson, who has served as OR’s CEO since its foundation, has been hired as REI’s CEO and will lead its invasion into foreign markets.

Other board members include Haukur Leósson, chairman of OR’s board, and OR’s vice-chairman Björn Ingi Hrafnsson.

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