UNESCO - United Nations Educational,[ ] (via Public) / Carbon capture and storage plant becomes operational in Iceland publicnow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from publicnow.com Daily Mail and Mail on Sunday newspapers.
Reykjavik Energy Invest announced this week that it would merge with Geysir Green Energy to form a major company in geothermal energy development. After the merger, the energy giant will be worth ISK 65 billion (USD 1.1 billion, EUR 748 million).
The company will retain the name Reykjavik Energy Invest and will invest in and develop geothermal energy projects around the world.
Magnus Jonsson, Vice Chairman of Geysir Green Energy, said, “Our combined forces make us better equipped for growth on the international market and we believe this to be a strong step in the development of Icelandic global growth in the field of geothermal energy.”
15 Covid-flutningar og nóg að gera mbl.is - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mbl.is Daily Mail and Mail on Sunday newspapers.
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A sizeable minority within the cabinet of the Reykjavik city council intends to request that the details of Reykjavik Energy’s dealings with Canada’s Magma Energy over the sale of its stake in HS Orka be made public.
The board of Reykjavik Energy yesterday voted to accept Magma’s offer to buy 16.58 percent of HS Orka. The company will also purchase a 15 percent share from the Town of Hafnarfjordur.
The sale of Icelandic energy resources to foreigners has never happened before and has caused considerable controversy; especially as Reykjavik Energy is a publicly owned company. Some argue that foreign investment will bring new opportunities, experience and credibility to the Iceland’s huge renewables market, while others feel that energy independence is paramount and that public assets should not be sold to private firms – especially as Iceland is already a world leader and expert nation in renewable energy production.