HS Orka has acquired Múlavirkjun hf., the company that owns and operates Múlavirkjun hydropower plant on the Snæfellsnes Peninsula in Iceland. Majority owner of the company was Eggert Kjartansson. Múlavirkjun was formally commissioned in November 2005 and has an installed capacity of 3.2 MW.

Tómas Már Sigurðsson, CEO of HS Orka, welcomes the milestone, noting it is the company's first power plant in West Iceland:
"We know Múlavirkjun well and know that we're taking over a well-run operation. We've had a successful partnership with the previous owners, and we will do our best to continue our good relationship with the community of West Iceland."

HS Orka has managed all of the plant's production from the outset and has also purchased all of its energy output.

Múlavirkjun channels water drawn from the source of the Straumfjarðará river as it flows from lake Baulárvallavatn and lake Hraunsfjarðarvatn on the Snæfellsnes Peninsula. Three local farmers were behind the original project: Eggert Kjartansson in Hofsstaðir, Ástþór Jóhannsson in Dalur, and Bjarni Einarsson in Traðir.