Landsvirkjun in Iceland Announces New Renewable Energy Power Purchase …

June 29, 2012 by  
Filed under Green Energy News

REYKJAVIK, Iceland, Jun 29, 2012 (BUSINESS WIRE) –
Landsvirkjun today announced that it has signed a new power purchase
agreement (PPA) with PCC BakkiSilicon hf, an Icelandic subsidiary of the
Germany-based industry holding PCC SE. Under this new contract,
Landsvirkjun will provide clean, renewable energy to power a
metallurgical grade silicon metal production plant being built by PCC in
Bakki near Husavik on Iceland’s north coast. The 32,000 ton facility is
scheduled to come online in late 2015 and will require 52 megawatts (MW)
of power, or 456 gigawatt-hours (GWh) annually, which will be derived
from renewable sources such as geothermal and hydro.

“We are very pleased to diversify our customer base by welcoming PCC and
this new industry into our growing portfolio. We are optimistic that
silicon metal production has good long-term prospects in Iceland where
power is generated from 100% green renewable energy sources at the most
competitive terms available in Europe,” said Hordur Arnarson, CEO of
Landsvirkjun. “Furthermore, northeastern Iceland is one of Europe’s most
exciting new industrial development areas and an ideal location for this
venture given its natural geothermal resources, existing infrastructure,
and the support of the local community.”

“During the past 18 months, PCC has experienced an outstandingly
professional and trustful cooperation with Landsvirkjun, and having
signed the power contract today constitutes an important milestone to
our silicon metal project” says Waldemar Preussner, sole owner of PCC
SE. “We feel a great commitment and support from all our Icelandic
partners and will on our side do our best to pioneer the industrial
development in Bakki, where we see excellent conditions to make this
plant happen.”

Landsvirkjun is one of Europe’s leading renewable energy companies and
processes 75% of all electricity in Iceland. By signing this long-term
PPA of 15 years, Landsvirkjun continues to reaffirm the competitive
business environment in Iceland. Currently the contract is subject to
certain conditions precedent including permits, an agreement with the
Icelandic transmission system Landsnet, the government of Iceland and
financing set to be finalized before May 2013.

To learn more about renewable energy in Iceland visit .

About Landsvirkjun:

Landsvirkjun generates green renewable energy at competitive prices. The
company is 100% owned by the Icelandic State and has over 45 years of
experience generating electricity from hydro and geothermal power
sources. Landsvirkjun is Iceland’s largest generator of electricity,
currently operating 15 renewable hydro- and geothermal power stations,
and one of the ten largest renewable energy companies in Europe.
Landsvirkjun’s mission is to maximize value creation from energy sources
entrusted to the company in a sustainable and efficient manner.

About PCC SE:

PCC is a global group of companies operating under the leadership of PCC
SE Holding based in Duisburg, Germany. Comprised of more than 70
subsidiaries, PCC Group includes a workforce of about 2,300 employees
located in 12 countries. Group sales are generated through PCC’s three
divisions – Chemicals, Energy and Logistics – with a 2011 turnover
totaling 614.8 million EUR. PCC on the internet:

SOURCE: Landsvirkjun

        Magnus Thor Gylfason, +354 515 9000 
        Acting Director Corporate Communications

Copyright Business Wire 2012

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