Step forward for Atlantic SuperConnection project

A French investment firm is backing a project to bring power generated by Icelandic volcanoes to generate electricity in the UK.

Meridiam is to fund part of the cost of the Atlantic SuperConnection linking the UK and Iceland, with Sky News reporting the global asset management company is allotting ‘a multimillion’ investment in the 1,000 mile pipeline between the two countries.
Atlantic SuperConnection
Meridiam, a highly credible investor, is currently funding the expansion of La Guardia Airport in New York. The massive subsea interconnection is estimated to cost $4.5bn.

Chinese, Canadian, Middle Eastern and Singaporean pension funds and sovereign wealth funds have expressed interest in investing in the projec.

The Atlantic SuperConnection would use geothermal and hydroelectric power generated by Icelandic volcanoes and hot springs to supply electricity to hundreds of thousands - and potentially millions - of UK households.

A cable manufacturing plant is being proposed for northern England to make the cable, with 2022 mentioned as the year of full operation of the link itself, according to Sky.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Reach New Heights: Six Best Practices in Planning and Scheduling

These 6 best practices have created millions of dollars in value for many global companies. Learn...

Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...