Isavia has secured a ISK 12.5 billion (EUR 100 million) loan from the EIB. The funds will be used to renovate existing infrastructure in addition to making capacity investments at Keflavik International Airport, in order to respond to substantial passenger growth. The agreement signed today closes Isavia’s funding needs for 2018.
The project concerns the expansion of the Hellisheidi geothermal complex by an additional 90 MW and the construction of a new 90 MW geothermal power plant at Hverahlíð. The objective of these new power units is mainly to meet increasing demand for electricity in the export-orientated industrial sectors, notably supplying one existing and one new aluminium smelter.