Century Aluminum (Nordural) intends to build an aluminium smelter at Helguvík for producing 250.000 tpy, using 435 MW of electricity. At one point the intended size grew to 600.000 tpy and 625 MW of electricity but those plans have been cancelled. The first phase of the smelter was expected to start in 2010 and the 250.000 ton should be reached in 2013. Now there are already some big structures at the smelter site but no energy has been produced and moreover, there is no energy available.
Sigmundur Einarsson, a geologist at the Icelandic Institute of Natural History, has written some articles on this matter (in Icelandic). He has tried, amongst a number of other environmental scientists, to warn the Icelandic government about a new kind of collapse, an energy collapse due to following far too optimistic speculation of irresponsible people. Read More