Reykjavik Energy
Orkuveita Reykjavíkur, known in English as Reykjavik Energy, is a prominent energy and utility company in Iceland. It provides a comprehensive suite of services, including electricity production, geothermal energy, and water supply to its customers. Established on January 1, 1999, Reykjavik Energy emerged from the merger of two earlier entities: Rafmagnsveita Reykjavíkur, which dealt with electricity, and Hitaveita Reykjavíkur, which focused on district heating.
Historical Background
Rafmagnsveita Reykjavíkur, the electricity division, was originally founded in 1921. Hitaveita Reykjavíkur, responsible for district heating, became an independent company in 1946, though its operations had begun as a public entity back in 1930. In the year 2000, Vatnsveita Reykjavíkur, providing water services since 1909, was integrated into Reykjavik Energy, further consolidating its role as a multi-utility provider.
Operations and Facilities
Reykjavik Energy operates significant geothermal power stations, including the Nesjavellir and Hellisheiði Power Stations. These facilities are cogeneration plants, which means they provide both electricity and hot water. This dual capability is critical for the Reykjavik capital area, where 99% of housing is heated with hot water sourced from geothermal energy. The company's innovative use of geothermal resources highlights Iceland's commitment to renewable energy.
Subsidiaries and Projects
Reykjavik Energy oversees several notable projects and subsidiaries. For instance, ON Power, a subsidiary, manages the Hellisheiði Power Station and is a key player in the nation's energy landscape. Another significant initiative is Carbfix, a project that captures and stores carbon dioxide underground, reducing emissions and contributing to environmental sustainability.
The Iceland School of Energy, jointly managed by Reykjavik Energy, Reykjavik University, and Iceland GeoSurvey, is an educational endeavor focusing on sustainable energy and electric power. This initiative underscores Reykjavik Energy's commitment to innovation and education in the energy sector.
Environmental and Sustainable Initiatives
Reykjavik Energy is at the forefront of Iceland's green energy movement. By harnessing geothermal energy, the company significantly reduces the reliance on fossil fuels, marking Iceland as a global leader in sustainable energy practices. Reykjavik Energy's operations exemplify the potential of geothermal resources in mitigating climate change and promoting environmental sustainability.