Iceland is the only country in Western Europe that still has large resources of competitively priced renewable energy
ON Power has a definite competitive edge in a world of ever rising energy prices due to the low production cost of electricity in geothermal power plants.
Graph source: BroadGroup, Data Center Analysis and Benchmarking of Iceland, June 2013
Iceland is connected to the UK and mainland Europe through the Farice and Danice data cables, respectively. Iceland is connected to the North America network through the Emerald Express. Latency from Iceland to New York and Halifax is 40.6 ms and 33.7 ms, respectively.
A company operating in Iceland must submit annual accounts that comply with accounting rules and disclosures, which reflect a true and fair view of the company’s assets, liabilities, results and financial position as per standard EU requirements.
Every limited company in Iceland is required to elect an auditor or inspector and have its annual accounts audited. For public limited companies, a state-authorized public accountant must perform a full-scale audit. Publicly listed companies must elect two auditors, one of whom must be a state-authorized public accountant.
Site locations are close to Iceland's main international airport and the capital city of Reykjavik. Three big scale locations for various types of operations are only 20 mins away from the city center.