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  1. Market Data
January 5, 2022

Hvala, Iceland

By Carmen

Hvala is a 55MW hydro power project. It is planned on Hvala river/basin in Northwest, Iceland. The project is currently in permitting stage. It will be developed in single phase. The project construction is likely to commence in 2022 and is expected to enter into commercial operation in 2024.

Project Type Total Capacity (MW) Active Capacity (MW) Pipeline Capacity (MW) Project Status Project Location Project Developer
Hydropower 55 55 Permitting Northwest, Iceland HS Orka hf; Vesturverk ehf


The project is being developed and currently owned by HS Orka hf and Vesturverk ehf. The company’s ownership stake in the project stands as 70% and 30% respectively.

The gross head of the project will be 315m. The project is expected to generate 320 GWh of electricity. The project cost is expected to be around $77.668m.

Development Status

The project construction is expected to commence from 2022. Subsequent to that it will enter into commercial operation by 2024.

About HS Orka hf

HS Orka is a geothermal power company. It has an installed geothermal power capacity of 175 MW. HS Orka generates 150 MW of thermal energy for district heating.


All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.

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