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The story
Landsvirkjun was founded on 1 July 1965 by the state of Iceland and the city of Reykjavík. The city of Reykjavík contributed to the company three power stations on the Sog River. Shortly after its founding, construction on the Búrfell hydropower station began. From 1965 until 2005 the purpose of Landsvirkjun was to produce and distribute high-voltage electricity.
The municipality of Akureyri acquired a 5% share in Landsvirkjun in 1983 and became the third owner. Three hydropower stations on the Laxá River previously owned by the municipality of Akureyri were merged into Landsvirkjun.
The hydropower stations Búrfell, Sigalda, Hrauneyjafoss, Blanda, Sultartangi, Vatnsfell, and Fljótsdalsstöð were all built by Landsvirkjun. The geothermal power station Krafla came under Landsvirkjun's ownership in 1985.
Through a new electricity act in 2005, the company's Transmission Division became Landsnet, an independent limited company and a subsidiary of Landsvirkjun. Landsnet owns and operates the Icelandic transmission system and manages the country's electricity system. In 2007 the state of Iceland took over the ownership shares of Akureyri and Reykjavík in Landsvirkjun, turning it into a public partnership, fully owned by the state of Iceland. In December 2012, Landsvirkjun erected two wind turbines, in an area known as Hafið, within the construction area of Búrfell Power Station, in the south of Iceland. The turbines have a total of 2 MW of installed power.
From Wikipedia’s article on Landsvirkjun, shared under CC BY-SA 4.0.5