Iceland Seeks UK Funding For Subsea Cable Project (Updated News)
Iceland’s president Olafur Grimsson is expected this week to call on the British government to provide financial support for the construction of a £4.3bn subsea electricity cable – which will be the longest in the world – linking his country to the UK’s electricity grid.
The ambitious project, drawing on hydro, geothermal and wind power generation, could deliver five terawatt-hours a year to Britain at a cost 15% lower than offshore wind, according to Iceland’s state-owned electricity firm
Landsvirkjun.
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