Magma Energy now holds 84% of Icelandic geothermal company HS Orka, whose properties include the Svartsengi Power Station adjacent to the Blue Lagoon.
Photograph: vestman via Flickr
Magma boosts HS Orka stake to 84% amid investigation
Despite objections from some corners of Iceland, Canadian geothermal developer Magma Energy has closed another round of its acquisition of HS Orka, spending approximately $87.4m in cash and stock on 38% of the company’s outstanding shares.
