This is a best prospect industry sector for this country. Includes a market overview and trade data.
Overview
Almost all of Iceland’s electricity is produced in hydroelectric and geothermal power plants. There are three main electricity producers: Landsvirkjun, which is state-owned; Reykjavík Energy, owned by three municipalities; and HS Energy, owned by local municipalities and private investors, some of whom are foreign. There is a nascent wind power sector and some interest in developing solar power, especially for off-grid uses. As Landsvirkjun and Reykjavík Energy are publicly owned, tendering is mandatory if the value of a contract exceeds a certain limit. The price limit depends on the nature of the purchase. See websites below for further information.
Leading Sub-Sectors
Turbines for renewable power plants; transformers; generators; and small scale, off-grid solar solutions.
Opportunities
There are opportunities for U.S. companies to sell products to upgrade, maintain and repair power plants.
Resources
American-Icelandic Chamber of Commerce
Ministry of Higher Education, Science, and Innovation
Ministry of Culture and Business Affairs
Ministry of the Environment, Energy, and Climate
Rikiskaup Central Public Procurement
SA Confederation of Icelandic Enterprise