"We can serve as a green battery for the UK," Hordur Arnarson, the chief executive of Landsvirkjun said in an interview.
"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)," Arnarson said in an interview. "It will be the longest subsea cable in the world."
The project, previously considered economically unviable, is back in the frame because of rising demand for low-carbon energy and regulations favoring renewable power.
A government-appointed committee will deliver a report on the project this year, and Landsvirkjun expects to make a final investment decision on the 1,000 kilometre subsea cable by 2015-2016, Arnarson said.
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