Asgeir Margeirsson, CEO of Magma Energy Iceland, says he does not see what difference it makes which particular foreigners own the HS Orka geothermal company; but says it will fall into foreign hands either way.
If the government prevents Canada’s Magma Energy from purchasing HS Orka, it will instead go to the foreign claimants on the estate of Glitnir Bank; and furthermore, Magma would give serious thought to legal action.
Margeirsson told RUV that the State has had plenty of opportunity to buy HS Orka for the Icelandic nation, but chose not to. Now that the company is definitely going to change hands, it matters little whether it goes to Magma or to Glitnir’s creditors, he says.
A conference of the Left Green Movement on Friday decided that the purchase contract should be voided, an investigation into the deal launched and laws on foreign investment in Icelandic energy sources re-examined. The Left Greens are the junior partner in Iceland’s two-party coalition government.
Most protesters against the deal are not against foreign investment in Icelandic power per se; but they feel that Magma has come to Iceland at a time and in a manner that suggest it is predating on the country’s current weakness. Click here to read a direct response to Magma Energy written by singer Bjork Gudmundsdottir.
2 Responses to “HS Orka sale still raising questions in Iceland”
Trackbacks/Pingbacks
[...] HS Orka sale still raising questions in Iceland [...]
[...] HS Orka sale still raising questions in Iceland [...]