HS Orka, Iceland’s largest privately owned producer of renewable energy, has acquired Múlavirkjun hf., the company that owns and operates Múlavirkjun hydropower plant on the Snæfellsnes Peninsula in Iceland.
HS Orka is owned by infrastructure investment manager Ancala and Jarðvarmi slhf., a group of 13 Icelandic pension funds. Múlavirkjun represents the company’s first power plant in West Iceland.
Múlavirkjun channels water drawn from the Straumfjarðará river as it flows from lake Baulárvallavatn and lake Hraunsfjarðarvatn. Three local farmers were behind the original project. Múlavirkjun was formally commissioned in November 2005 and has an installed capacity of 3.2 megawatts.
The acquisition adds to HS Orka‘s diversified renewable-energy portfolio, which includes the Svartsengi and Reykjanes geothermal power plants, along with additional hydropower plants across the country. Collectively, HS Orka’s portfolio provides more than 250 megawatts
