Since the start of our operations in Iceland, we have lent more than €1 billion. More than €949 million of our funding since 2000 has supported projects related to green energy production.
To support geothermal power and meet increasing demand for electricity in the industrial, residential and commercial sectors, we signed a loan agreement with Landsvirkjun, the National Power Company of Iceland, to finance a new geothermal power station and its geothermal wells at Theistareykir.
We also helped Reykjavik Energy Geothermal expand two geothermal power plants outside Reykjavik and refurbish the district heating system and electricity distribution system in Reykjavik.
Aside from promoting renewable energy, this project also contributes to economic growth and diversification in a remote and less-developed region.
Our commitment in Iceland also includes financial support for transport projects, such as a loan to the national airport company Isavia in support of the Keflavik Airport Extension.
It is one of the country’s biggest infrastructure projects, which is crucial in order to cater for future growth in traffic and to improve passenger service standards as well as being vital for the economy and the safeguarding of employment especially during the COVID-19 crisis.
At a glance
The EIB provides finance and expertise for sound and sustainable investment projects in Iceland.
EIB activity in Iceland by sector
(since start of operations)
EIB stories in Iceland
Individual stories speak far louder than figures and charts. Discover how our work improves the quality of life in Iceland and beyond
The answer is green
While we all know that energy efficiency and renewable energy are the keys to fighting climate change in the long term, they are also a vital part of the solution to the current energy crisis.
3 ways volcanos help cool the planet
Iceland uses its volcanos to produce energy and fight climate change
Get EIB support in Iceland
We can provide you with various type of financing to implement projects that promote growth and jobs in your country. We support small businesses, innovation, climate and infrastructure. Get an overview here for the whole EIB Group product range.
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Tel. +352 4379-22000
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