A £4.3bn subsea electricity cable is expected to be laid connecting Iceland and the UK, in an effort to help generate renewable energy in England. The cable would be the longest of its kind in the world and would link Iceland to the UK's electricity grid.
Hörður Arnarson, Landsvirkjun CEO, says that the actions to lay the submarine cable are not only to create renewable energy, but to also create stable and affordable energy in England, a country that has a growing demand for energy.
By comparison, Iceland enjoys the cheapest electricity prices in Europe thanks to an abundance of geothermal energy, wind and hydropower. Furthermore, Arnarson encourages compliance with efforts to lay the cable as he predicts this will help generate big profits for Iceland.
For the future, Hörður says there will be a point when submarine cable will be laid between Europe and America. The Landsvirkjun CEO reiterates that the technology is coming and it’s only a matter of time before Iceland is sharing its natural energy with the rest of the world.
A £4.3bn subsea electricity cable is expected to be laid connecting Iceland and the UK, in an effort to help generate renewable energy in England. The cable would be the longest of its kind in the world and would link Iceland to the UK's electricity grid.
Hörður Arnarson, Landsvirkjun CEO, says that the actions to lay the submarine cable are not only to create renewable energy, but to also create stable and affordable energy in England, a country that has a growing demand for energy.
By comparison, Iceland enjoys the cheapest electricity prices in Europe thanks to an abundance of geothermal energy, wind and hydropower. Furthermore, Arnarson encourages compliance with efforts to lay the cable as he predicts this will help generate big profits for Iceland.
For the future, Hörður says there will be a point when submarine cable will be laid between Europe and America. The Landsvirkjun CEO reiterates that the technology is coming and it’s only a matter of time before Iceland is sharing its natural energy with the rest of the world.
