Vatnsfell is an Icelandic hydroelectric power station situated in the Highlands of Iceland, at the south end of lake Þórisvatn, just before the Sprengisandur highland road. The power station went online in 2001. It is run by Landsvirkjun and generates electricity during the peak demand winter months. The installed capacity is 90 MW, and the head is 67 m. Lead engineering services were provided by Mannvit Engineering.