STOCKHOLM--Icelandic power company Landsvirkjun isn't concerned about a loss of business following the rejection of the $1.2 billion expansion plan by Canadian aluminum maker Alcan Inc. (AL).
"There's lot's of interest in us," said Thorsteinn Hilmarsson, head of corporate communications at the Landsvirkjun.
Hilmarsson said though the memorandum of understanding between Alcan and Landsvirkjun to partially power an expanded Alcan aluminum smelter plant in Hafnarfjordur expires in June, Landsvirkjun is confident it will find new buyers for the 2,000 gigawatts per hour of electricity.
On Saturday, Hafnarfjordur residents voted by a razor thin margin to reject the Alcan expansion that would have increased capacity by 280,000 tons per year to 460,000.
Aluminum makers have been attracted to Iceland for its abundant hydro and geo-thermal energy potential.
Hilmarrson said that despite no vote, there was still a chance that Alcan could expand its Hafnarfjordur plant by about 150,000 tons, or nearly double current capacity, in the area where it is already allowed to operate.
Alcan couldn't be reached for immediate comment.
The Landsvirkjun communications director also said that there was a competition between Alcan and U.S. aluminum maker Century Aluminum Co. (CENX) for Alcan's current agreement, and that the company would be open to talking with Century again about helping to supply power to Century's planned new 250,000 ton per year smelter in Helguvik, near Hafnarfjordur.
Century representatives also weren't available for immediate response.
Landsvirkjun supplies about 80% of Iceland's total electricity consumption, the company says.