Under the terms of the contract, Landsvirkjun will provide clean energy of up to 10MW for seven years for GMR’s steel and scrap metal recycling plant located at the Grundartangi industrial area on Iceland’s southwest coast.
Landsvirkjun CEO Hordur Arnarson said GMR increases Landsvirkjun’s diversity which is one of the key components of the company´s marketing strategy.
"It´s great to see increased value creation develop on the basis of Iceland´s current industry and aluminum production, which have been built over the past decades," Arnarson added.
"GMR´s operation is also good for the environment since it enables efficient recycling using renewable energy."
Landsvirkjun is an energy company owned by the Icelandic State and processes 75% electricity of the country’s electricity.
