Leftist-Greens Want to Examine Energy Sale - The Reykjavik Grapevine

Leftist-Greens Want to Examine Energy Sale

Published May 18, 2010

The Leftist-Green Party issued a statement last night regarding Canadian company Magma Energy’s purchase of Geysir Green Energy’s 52% stake in the Icelandic power company HS Orka.
As previously reported, Magma Energy already owned a 46% share of HS Orka, when it was recently announced that the company had bought Geysir Green Energy’s 52% stake in the same company. This means Magma Energy owns 98% of Iceland’s third largest power company.
After an emergency meeting last night, the Leftist-Green Party issued a statement to the media, emphasizing that one of the party’s founding platforms is that Iceland’s natural resources remain in the ownership of the people. They strongly encourage the government to look at every possible means of preventing the finalization of the sale, with the possibility of taking the matter to court included.
Whether anything can be done, or whether the government has responded too late in the game, is still unclear.

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