Icelandic Power Company joins AEC
Landsvirkjun is the national power company of Iceland, generating electricity solely from 100% renewable sources: hydropower, geothermal and wind. As we welcome our new member we spoke with Rikardur Rikardsson, EVP of Business Development and Innovation.
What does Landsvirkjun work with and where in the north?
Landsvirkjun harnesses renewable energy from hydro, onshore wind and geothermal resources to competitively power international power intensive industry and local communities. The company is Iceland’s largest power company supplying about 75% of electricity in the country, and its international activities currently focus on the Arctic and the North.
What are some of the biggest technology trends in Arctic energy that Landsvirkjun is involved in?
We are predominantly focused on opportunities to harness competitive hydro and onshore wind renewable energy resources across Iceland and the North while also developing geothermal where it’s competitive in Iceland and exploring some innovation potential, for instance in energy transition and storage.
What are some of the biggest challenges to build renewable energy solutions in the Arctic?
Delays in policy, permits and regulatory affairs and in some cases lack of infrastructure or human capacity constraints
Landsvirkjun operates hydropower stations, geothermal and wind turbines. Why is this energy mix important for Iceland?
The power system is essentially 100% renewable, backed up with limited fossil fuel generation. The mix of hydro, onshore wind and geothermal can provide competitive, flexible and reliable power for both international power intensive industry activities and local needs. In addition, geothermal resources provide a critical supply of renewable and competitive heat for homes, businesses, tourism and leisure activities including swimming pools and spas.
Why is Landsvirkjun joining the AEC?
To join forces with Arctic and Northern stakeholders in making competitive, flexible and reliable renewable energy more widely available for the long term health and resilience of our economies and communities.