A record year in energy generation and operating results
Landsvirkjun performed well in 2017. Profit before unrealised financial items has never been higher. Revenue was higher than ever before and records were set in energy generation and sales this year. The quantity of electricity sold was 14.3 terawatt hours, an increase of 5.1% between years. The Company's finances continued to strengthen and the Company will soon be able to increase dividend payments to its owners.
Cash flow from operations
Free cash flow
Profit before unrealised items
We have generated renewable energy since the beginning. Milestones were reached at three power stations this year.
Ljósafoss Hydropower Station:
Renewable energy for 80 years
Krafla Geothermal Power Station:
The cradle of geothermal energy in Iceland for 40 years
Fljótsdalur Hydropower Station:
Energy generation and sustainability for 10 years
Videos are only available in Icelandic.
Environmental issues are at the heart of our operations and we have published separate Green accounts and Environmental Reports since 2006. These reports are included in the Company's Annual Report. The Company’s Green Accounts provide numerical data on the environmental impact of Landsvirkjun’s operations.
Deep re-injection of separated
water from the Krafla station
Number of clean-energy
vehicles in fleet
A new power station at Þeistareykir
The Þeistareykir Geothermal Power Station is the newest power station in Iceland and came online on the 17th of November 2017. The preparation and construction of the power station focused on creating an efficient, reliable power station that respects the environment. It is important to minimise the environmental impact of a construction project when harnessing a new area. The project must also ensure long-term profit for the future.
An emphasis on gender equality
We have participated in the Capacent gender equality indicator initiative for the past year, to promote awareness and to formulate clear goals for gender equality within the Company. Various research has been carried out and an action plan is now under preparation.
Electricity generation record
Electricity generation was successful in 2017 and surpassed 14 TWh. Generation levels reached record levels in the Fljótsdal, Sigalda, Búðarháls, Sultartanga and Steingrímsstöð Power Stations.
Blanda Hydropower Station wins the Blue Planet Award
The Blue Planet Prize is awarded by the International Hydropower Association (IHA) to hydropower projects that demonstrate excellence in sustainable development. The results showed that operations at the Blanda Hydropower Station are considered to be of highest standard with regard to the sustainable utilisation of hydroelectric power. Many of the other working practices at the station were considered to be exemplary.