As director of Iceland's state-run energy firm Landsvirkjun, Friðrik has been among the most active proponents of the controversial hydro-electric dam at Kárahnjúkar in eastern Iceland.
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He was the former director of Icelandic state-run energy firm Landsvirkjun.
The municipality of Akureyri acquired a share in Landsvirkjun in 1983 and became the third owner.
It did not happen but now Landsvirkjun is planning to build hydropower stations on the lower part of Þjórsár river, at Urriðafoss and Núpur.
An Icelandic social-democratic member of parliament, Helgi Hjörvar, who is on the board of Landsvirkjun, challenged authorities to reveal the real price and thus "clear the air" surrounding the project—the dam and the smelter.
The Iceland Deep Drilling Project (IDDP) is a project and consortium of the National Energy Authority of Iceland (Orkustofnun) and four of Iceland's leading energy companies: Hitaveita Sudurnesja (HS), Landsvirkjun, Orkuveita Reykjavíkur and Mannvit Engineering.