ON Power and GeoSalmo Agree on Purchase of Electricity
ON Power and GeoSalmo have successfully secured a contract to acquire up to 28 MW of electricity for their land-based salmon farm located in Þorlákshöfn. This agreement is a testament to both companies' unwavering commitment to environmental consciousness and sustainability.
ON Power and GeoSalmo have successfully secured a contract to acquire up to 28 MW of electricity for their land-based salmon farm located in Þorlákshöfn. This agreement is a testament to both companies' unwavering commitment to environmental consciousness and sustainability.
High-quality salmon in a closed aquaculture system
GeoSalmo is a company focused on advancing land-based salmon farming in Iceland, beginning with a facility capable of producing up to 24,000 tons annually. The initial phase oft his project will produce roughly 7,500 tons. Construction preparations are underway, and the Icelandic National Planning Agency has issued a positive opinion on GeoSalmo's environmental assessment report.
Jens Þórðarson, CEO of GeoSalmo:
“As part of our preparations, securing energy is crucial, and we highly value GeoSalmo's partnership with ON. It's reassuring to know that the energy for the project comes from our municipality, and we appreciate ON's reliability and power. Using Icelandic energy for environmentally friendly food production is not only economically beneficial but also helps in reducing the carbon footprint of food production globally. We're thrilled that ON has chosen us as their future client, and we have high expectations for our collaboration. Our company's activities will be in harmony with the environment and society, and we're committed to delivering high-quality products to our customers. We're optimistic about the future.”
Emphasis on sustainability and harmony with nature and society
ON Power is the second-largest electricity producer in the country and operates the fourth-largest geothermal power plant in the world, known as Hellisheiðarvirkjun. ON and GeoSalmo prioritize sustainability and ensure their activities harmonize with nature and society. ON has set a goal to make their energy production activities from Hellisheiðarvirkjun carbon neutral by 2025. The recent agreement aims to increase energy production closer to the source and promote a diversified business environment that creates jobs and generates significant income.
Árni Hrannar Haraldsson, managing director of ON Power:
“Our main purpose is to generate and distribute electricity in an environmentally responsible and sustainable manner. We strive to minimize our ecological impact by implementing cutting-edge carbon disposal technologies. We are also leading the way in energy exchange in Iceland. We believe that GeoSalmo's plans align perfectly with our commitment to serving conscientious customers who prioritize environmental concerns and economic circularity, in line with the United Nations Global Goals.”
