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The Þeistareykir geothermal area offers extensive opportunities for geothermal utilization and has an estimated capacity of up to 200 MW. The main goal of the Þeistareykir Project has always been to build a cost-effective and reliable power station working in harmony with its environment and society.

The history of the Þeistareykir project dates back to 1999 when the local municipalities and energy utilities established a project company “Þeistareykir Ltd” to utilize the geothermal area.

Landsvirkjun acquired a share in the company in 2005 and funded exploration and development before eventually acquiring 100% ownership in 2010. Construction of the geothermal plant began in 2014. The first 45 MW phase of the project was commissioned in October 2017, followed by the second 45 MW unit in April 2018

Installed capacity: 90 MW
Generation capacity: 760 GWh/year