The Krafla power station was officially launched in the early 1977, but was only able to produce at its full 60-megawatt capacity after a second steam turbine was installed in 1996.

The Krafla geothermal power plant consists of two 30-megawatt units, with double pressure inlet and dual-flow turbines with 5 steps on each side.

[1] The construction work of the Krafla geothermal power plant started in 1974, with trial boreholes,[4] after a contract over two planned units was signed.

Nevertheless, it was finished in early 1977 and was launched in 1978, though the power plant did not work to its full potential until the seismic and volcanic activities strongly declined in 1984 and further boreholes were drilled.

The two companies which were in charge of the engineering of the Krafla geothermal power station since very early in its developing process were Mannvit and Verkís.