Situated in Iveland Municipality, the power station consists of two plants, Iveland 1 and 2. It lies on the River Otra, around 27 kilometres north of Kristiansand, between Lake Byglandsfjorden and the mouth of the river. The generators at Iveland 1 were commissioned in 1949, 1950 and 1955. The generator at Iveland 2 was commissioned in 2016.
The power station, which lies on the River Otra, makes use of the 50.45-metre drop from Gåseflåfjorden to Skaiåevja.
Iveland power station supplies Agder Energi with 500 GWh per year, making it our 5th biggest power station.