Europe's most competitive power prices to attract data centers

Landsvirkjun, Iceland's national power company, has ambitious plans to power 1% of Europe's data center industry with electricity from renewable hydroelectric and geothermal sources by 2020.

According to Landsvirkjun this ambition is based on Iceland´s ample renewable power development opportunities and the fact that the country has been attracting considerable datacenter industry investment drawn by the compelling power proposition, providing the most competitive energy prices in Europe, solid infrastructure, and world-class business environment.

Magnus Bjarnason, Executive Vice President for Marketing and Business Development at Landsvirkjun says: "Iceland offers differentiating economic advantages with the most competitive power prices in Europe, a commitment to long term contracts and reliable renewable energy.  This makes it particularly attractive for international sustainable business development, especially in sectors such as datacenters where value is attached with being green and secure."

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Iceland focuses on a favorable business environment, including low corporate tax, availability of land and green energy at competitive prices and efficiency within European legislative framework. New direct investment projects can apply for an investment agreement, ensuring generous regional incentives, including a corporate tax rate ceiling of only 15%.

Why Iceland

Along with having one of the lowest corporate tax rate in Europe, Iceland has a highly educated workforce which is ranked among the highest in the world, offers competitively priced renewable energy with an advanced infrastructure making Iceland an ideal location for investors