A consortium of Icelandic pension funds has acquired a 25% stake in HS Orka from Magma Energy Sweden. The funds paid around $71.5 million for the stake in the geothermal power company. The group also has an option until February 10, 2012 to acquire new shares from HS Orka treasury, which would increase their share to 33.4%. The transaction is expected to be completed next month.

Click here for the release from PR Newswire.