Orka has 175 megawatts of geothermal power capacity and generates 150MW of thermal energy for district heating. Expansions are planned that will increase Orka's geothermal power production to 425 MW by 2015.
Magma, based in Vancouver, has been in negotiations with Reykjavik Energy (RE) on behalf of itself and two other Orka shareholders to purchase 10.78% of the Icelandic company with an option to acquire an additional 5% for $40m.
RE
