“This summer we’ve mapped out what precisely it is that we need to look into,” Industry Minister Ragnheidur Elin Arnadottir said in an interview last month. The ministry is now pushing ahead with “a few projects” in “the coming months,” she said.
The government and the nation’s largest energy producer, Landsvirkjun, have been exploring whether to press ahead with a project to link European households to its abundant thermal power including geothermal energy. Building such a link is estimated by Landsvirkjun to cost as much as 2 billion euros ($2.6 billion), or about 17 percent of gross domestic product. Construction of the 1,170-kilometer (727-mile) submarine cable would need a bilateral accord with the U.K., as well as deals on buying and selling electricity.
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