This fully land-based salmon farm has been on the drawing board for a while. Landeldi is an Icelandic company, specialising exclusively in land-based aquaculture. The aim is to finalise a power purchase agreement in accordance with the term sheet before the end of the year.

In Deep Atlantic’s water extraction area in Þorlákshöfn supplies the company with freshwater and subterranean seawater at ideal temperatures, year-round. The subterranean seawater is naturally filtered through young sedimentary strata porous bedrock, which also equalises the temperature, and creates economically feasible conditions for large-scale salmon farming.

Halldór Ólafur Halldórsson, Deep Atlantic’s COB, welcomes this milestone, as renewable energy is the key to all sustainable production and increases the competitiveness of the company’s salmon products. “Deep Atlantic’s operations are energy intensive. The use of renewable energy is one of the cornerstones of this project being environmentally sound. We take environmental issues to heart in our operations, right from the smolt hatchery to the delivery of top-quality salmon food products. We endeavour to surmount challenges presented in sustainable food production, and are committed to combating climate change. Therefore, the collaboration with Landsvirkjun is an important step for us,” says Halldór.

Hörður Arnarson, Landsvirkjun’s CEO, says the signing of the term sheet a very enjoyable occasion and that the final power purchase agreement is planned to be signed before year-end. “This is an exceptionally exiting project, which completely matches Landsvirkjun’s prioritisation of energy sales, as our green energy supply is limited, and its demand is continually on the rise.”