Green Bond Fact Sheet

This fact sheet details a USD 200 million green bond issued by Landsvirkjun on March 9, 2018, marking the first green bond from an Icelandic issuer. The proceeds are designated for geothermal and hydropower projects, specifically the Theistareykir geothermal station and the Burfell hydropower plant.

• Landsvirkjun issued a USD 200 million private placement green bond on March 9, 2018, with a 10-year tenor and a maturity date of March 9, 2028. This issuance is noted as the first green bond from an Icelandic issuer.
• The bond proceeds are allocated to the development of the 900MW Theistareykir geothermal station and a 100MW expansion of the Burfell hydropower plant.
• The green bond framework defines specific eligibility criteria for energy projects: geothermal projects must have a direct emissions upper limit of 100g CO2/kWh, and hydropower projects must have a capacity up to 100MW and annual emissions under 4g CO2/kWh.
• Landsvirkjun is the largest electricity generator in Iceland, producing 75% of the country's electricity, with three-quarters of its generation derived from geothermal and hydro power plants.
• The bond issuance was significantly oversubscribed, with an orderbook totaling over USD 700 million, which is 7 times the initial launch size of USD 100 million.

APA

Climate Bonds Initiative (2018). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2018-03%20IS%20Landsvirkjun.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2018. https://www.climatebonds.net/files/drupal-files/files/2018-03%20IS%20Landsvirkjun.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=9 March 2018 |url=https://www.climatebonds.net/files/drupal-files/files/2018-03%20IS%20Landsvirkjun.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2018green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2018}, month = mar, url = {https://www.climatebonds.net/files/drupal-files/files/2018-03%20IS%20Landsvirkjun.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }