Two power plants under construction in order to meet increased demand for electricity
|The proposed Theistareykir geothermal power plant|
External conditions were not favourable in the year 2016. Aluminium prices continued to be low despite moving higher in the second half of the year. Our revenues are still in some part connected to aluminium prices.
Strong cash flow enabled the company to do more than meet its investments in the new hydro-electric power station at Burfell II and the geothermal power plant at Theistareykir. It is satisfactory to be able to continue this development without increasing debt, but on the contrary, decrease debt.”
More Information........ Financial Statements 2016........