HS Orka Signs Energy Agreement with Silica Company

Source: www.gulfoilandgas.com 2/17/2011, Location: Europe

Magma Energy Corp. announces that its 98.53% owned Icelandic energy subsidiary, HS Orka hf, has signed a power purchase agreement committing the sale of 30 megawatts of geothermal power to Iceland Silica Corporation ehf., "ISC", for the period May 1, 2013 to December 31, 2015. Iceland Silica is developing a new silica metal production plant at Helguvik, Iceland, about 20 km from HS Orka's power plants. HS Orka's 30 megawatts of supply will come from electricity currently being supplied to an Icelandic aluminum smelter under a soon expiring power contract that ties the electricity price to the world aluminum price. The new contract with ISC has no linkage to the aluminum price and will be at a higher base price than the contract it is replacing. HS Orka's supply of power to ISC's new plant will also provide a broader industrial base for Iceland and improve the employment and economic development situation in the vicinity of HS Orka's geothermal power operations.


Japan >>  6/6/2024 -  INPEX CORPORATION (INPEX) announced it will commence exploratory drilling for geothermal energy development in Shibetsu Town, Hokkaido, Japan, where ...
United States >>  6/6/2024 - Global energy storage platform provider Powin LLC (Powin) announced a strategic partnership with US-based Bergstrom Inc., a leader in thermal manageme...

Indonesia >>  5/30/2024 - PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO) announced the new Company management at the Annual General Meeting of Shareholders (AGMS) held in...
United States >>  5/30/2024 - Gradient Geothermal (“Gradient” or “the Company”), a Denver, Colorado-based geothermal company focused on energy production derived from the heat extr...

Croatia (Hrvatska) >>  5/22/2024 - The Croatian Hydrocarbon Agency and Crosco have signed contracts for the engineering, procurement and turnkey construction of geothermal exploratory w...
United States >>  5/15/2024 - StoneTurn, a leading global professional services firm, announced expansion of its Energy Transition and Net Zero offerings through a new collaboratio...

Related Categories: Biomass Energy  General  Geothermal Energy  Hydropower  Photovoltaic Solar Energy  Solar thermal Energy  Wind Energy 

Related Articles: Biomass Energy  General  Geothermal Energy  Hydropower  Photovoltaic Solar Energy  Solar thermal Energy  Wind Energy 


Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.