Magma confident HS Orka geothermal transaction is legal

Magma Energy strikes a diplomatic tone in responding to Icelandic government opposition to its acquisition of nearly all of HS Orka.

The uproar against the Canadian geothermal developer’s purchase of HS Orka gained momentum in recent weeks when Iceland’s top cultural export, Bjork, joined thousands of others in an online petition urging “the authorities to stop the sale of HS Orka and for Alþingi to hold a national referendum on the ownership and the utilisation of our energy resources”.

On Tuesday, Prime Minister Johanna Sigurdardottir voiced her support for that position, telling reporters, “It’s the intention of the government to wind down the privatization in the energy sector and ensure that Log in to read complete article.

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