Iceland is considering to use its geothermal energy to supply Britain with green power through a new subsea cable which would be built by 2020, Daily Star informs.
Hordur Arnarson, the chief executive of Landsvirkjun , was quoted as saying: “ We believe it’s a win-win situation, because we have a flexible (source of) renewable power, which could be used to balance (supply and demand in Britain).”
He added that it would be the longest subsea cable in the world.
The final investment decision on the subsea cable is expected to be made by 2015-2016.
Arnarson didn’t reveal how much the construction would cost, but he said that it would entail laying cable 3,000 meters underwater in some areas.
This project would enable Iceland to explore exporting renewable power to Europe as part of a strategy for broad-based economic growth to recover from a ruinous banking crash.
[mappress] Subsea World News Staff, January 10, 2013