Iceland's National Power Company Offers Data Centers the Most Competitive Power Prices in Europe
Landsvirkjun, Iceland's national power company has announced its aim to power 1% of the European datacenter industry with electricity from renewable hydroelectric and geothermal sources by the year 2020. The estimated electric energy needed to achieve this target is around 1.5 TWh, about 10% of the company's current generation. The ambition is based on Iceland's ample renewable power development opportunities and the fact that the country has been attracting considerable datacenter industry investment drawn by the compelling power proposition, solid infrastructure, and world-class business environment. Landsvirkjun's power proposition is to provide the most competitive energy prices in Europe. Recent public quotes from the company offer fixed real rates of $43/MWh in 12 year contracts. In comparison, European average real market rates were from $65/MWh in 2011 on short term contracts with prices expected to increase considerably over the coming decade. In addition, Iceland ...
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