The Icelandic energy provider, Landsvirkjun, one of Europe's leading renewable energy companies, may help supply Continental Europe with renewable energy via a North Atlantic submarine power cable.
Iceland currently holds a unique position amongst European nations in its potential to increase reliable electric power production from renewable energy resources. This increased energy production could be used to conduct business through an interconnector -- a submarine cable to Europe across the North Atlantic seabed.
Hörður Arnarson, CEO of Landsvirkjun, stated, "Providing sustainable energy to Europe through a submarine power cable offers an interesting business opportunity for the nation of Iceland and at the same time presents a partial solution to Europe where they are looking for an increased supply of renewable energy. Numerous countries in Europe have already expressed interest in the possibility to connect with Iceland's clean energy resources."
Laying a submarine cable will be a well suited addition to the ongoing industrial development of the country. Arnarson went on to emphasise that Landsvirkjun will continue to support further growth of its current customers, as well as new greenfield Data Centers and industrial customers.
Landsvirkjun proposed additional analysis and research over the next few years into the potential impact on social, environmental, legal, and technical issues which will be undertaken in cooperation with interested parties including the Icelandic authorities, universities, interest groups, and energy and transmission companies.
Oddný Harðardóttir, the Icelandic Minister of Finance, announced that a working group will be appointed to research the feasibility of laying a submarine cable between Iceland and the British Isles and or mainland Europe.
Europe could receive renewable energy from Iceland via submarine cable