SOURCE: Landsvirkjun

Landsvirkjun

May 30, 2012 11:22 ET

Landsvirkjun in Iceland Offers the Most Competitive Energy Prices in Europe: 100 Percent Green and Renewable Energy

REYKJAVIK, ICELAND--(Marketwire - May 30, 2012) - According to Landsvirkjun, Iceland offers the most competitive energy prices for industries in Europe. Current demand for this 100 percent green and renewable energy comes from existing industries such as aluminum, data centers, and other new emerging sectors that see benefits from using the energy from Iceland. This also includes a potential interconnector from Iceland to the UK or the European continent.

Mr. Magnus Bjarnason, EVP Marketing and Business Development at Landsvirkjun, discussed recently at the Submarine Power Cable & Interconnection Forum in Amsterdam the potential for laying a Submarine power cable between Iceland and the UK or the European continent could be likely, stating that it has the potential for being a win-win project for both Iceland and the receiving country.

At the forum, Mr. Bjarnason presented opportunities associated with the continued development of hydro, onshore wind, and geothermal renewable energy in Iceland.

The potential interconnector complements the successful industrial strategy in Iceland, where global power consumers such as Rio Tinto Alcan, Alcoa, BlueStar Elkem, and Verne Global Data Center, owned by the UK based Welcome Trust, have located their operations in the country and all plan to continue developments due to the competitive environment in Iceland.

"A submarine power cable to the UK or the European continent is a potential win-win project for both Iceland and the receiving country in Europe due to competitive pricing, enhanced security of baseload energy supply, and the fact that the renewable energy counts towards the EU 2020 targets. With an interconnector, Iceland will have an even more efficient electricity system that continues to offer progressive global companies the most competitive terms available in Europe," stated Mr. Bjarnason during the conference.

Landsvirkjun processes 75% of all electricity in Iceland and is the country's biggest electric generator. The company is also a leader in sustainable energy exploitation and promotes awareness, innovation and technological development.

To find out more about renewable energy in Iceland, visit www.landsvirkjun.com.

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