Electrical power passes over our land but allows only a 1-phase, 80 A. connection. We need a lot more.
The image below shows the grid of the rural utility company RARIK. The 3-phase grid ends about 3.7 km west of us (orange dot)..
These images gives a better idea. Click to enlarge. 
One we have defined our exact electrical power needs, the utility company is legally required to install the line. New regulation and international funding mean this extension will be installed subterranean which assures highest reliablity even under most challenging weather conditions.
Another option is a small hydropower plant in the Brunná river (240 m. from our property). This has potential to generate 30-150 KW, depending on the season (water flow varies). The estimated investment is about 400K.
The landowner is not opposed to this but this option will take time. Permitting for plants under 200 KW is relatively easy and straight forward in Iceland.
The law in Iceland allows us to sell our electricity (and hot water service) to our direct neighbours. In time this alone will help us recover all related investments.
Of course an on-site backup diesel generator will be part of our power availability strategy.