Landsvirkjun hf (Landsvirkjun) generates electricity using renewable energy sources, including hydropower, geothermal energy, and wind power. It produces more than 70% of Iceland's electricity, serving industries, the service sector, and homes. Approximately 85% of its electricity is sold to energy-intensive industries, while 15% is sold on the wholesale market. In 2024, Landsvirkjun produced 14,734 GWh of electricity. Landsvirkjun is a public partnership owned by the Icelandic government and Eignarhlutir, owned by the state treasury.

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Landsvirkjun undertakes extensive research and monitoring of resources used for energy production, focusing on glacial ablation, river flow and temperature, groundwater chemical composition and flow, sedimentation load, water levels, reservoir volume, meteorological conditions, and land changes. The company also monitors geothermal areas using a special geothermal model and measures geothermal reservoir conditions, groundwater flow, chemical content, and gas release. The Landsvirkjun Energy Research Fund supports environmental and energy research, awarding grants for projects related to geophysics, hydrogen production, and biodiversity. The company operates fifteen hydropower stations, three geothermal power stations and two wind turbines for research purposes in five operating areas. The R&D unit of the company is the Landsvirkjun Energy Research Fund, which is responsible for supporting environmental and energy research by awarding grants for various projects.