A sizeable minority within the cabinet of the Reykjavik city council intends to request that the details of Reykjavik Energy’s dealings with Canada’s Magma Energy over the sale of its stake in HS Orka be made public.
The board of Reykjavik Energy yesterday voted to accept Magma’s offer to buy 16.58 percent of HS Orka. The company will also purchase a 15 percent share from the Town of Hafnarfjordur.
The sale of Icelandic energy resources to foreigners has never happened before and has caused considerable controversy; especially as Reykjavik Energy is a publicly owned company. Some argue that foreign investment will bring new opportunities, experience and credibility to the Iceland’s huge renewables market, while others feel that energy independence is paramount and that public assets should not be sold to private firms – especially as Iceland is already a world leader and expert nation in renewable energy production.
Social Democrat representative in Reykjavik council, Dagur B. Eggertsson told mbl.is that the purchase contract has been carefully designed so that its details will only be available to politicians, public officials and councillors. He says that as Reykjavik Energy is a publicly-owned company, the public should be able to assess the contract personally.
This is what the IMF is here for
the contract
http://www.or.is/media/PDF/09_08_31_Project_Heat__SPA__Execution_copy.pdf
BS, thats a BIG mistake
“the purchase contract has been carefully designed so that its details will only be available to politicians, public officials and councillors”
Meaning that what ever becomes public will not specify the real deal, WTH are they doing!!
“The company will also purchase a 15 percent share from the Town of Hafnarfjordur.”
Exactly thats how you end up buying up to you own 51% . Then you start making decisions with out opposition if the opposition barks too much
you make it impossible to them until they sell you their shares then you raise the price of energy to the locals to a point of making energy a luxury.
You continue to start selling energy to other nations and make lots of profit for the corporation, more or less the corporation has the nation by the balls.
This will end up like some nations were people is just at the fence of the water plants looking and talking to their children that water is only for the rich, we have to drink from the rain, if it rains that is.
F*CK what an idiotic mistake, never sell your energy power to outlanders.
“details will only be available to politicians, public officials and councillors”….what does that remind one of….