U.K. Investigates Volcanic Power

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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) -- The U.K. is to look into creating an interconnector that would tap into the massive reserves of geothermal power created by Iceland's volcanoes.

U.K. energy minister Charles Hendry will visit Iceland this month to discuss the possibility of a transmission link that could export electricity from the country's hydropower and geothermal sources to the U.K.. Hendry said that active discussions are already underway and that he has met with the country's national grid operator. Measuring an estimated 1,200 kilometres (Km), the cable would be the world's longest electrical transmission cable. The cable would form part of Europe's 'supergrid' plan to interconnect a number of electricity grids via the North Sea in an effort to secure its electricity supply and create a back-up system for the growing amount of wind energy.

Iceland's largest energy producer, the state-owned Landsvirkjun (Reykjavík, Iceland), has already carried out investigations into an electricity link with Europe. Speaking recently, Landsvirkjun CEO, Hörður Arnarson, claimed that Iceland is in the unique position among European nations in its ability to increase electric power production through renewable energy and export it to European grids.

"The laying of a submarine cable to Europe, together with vigorous industrial development in Iceland, is probably one of the biggest business opportunities Iceland has faced," Arnarson said. "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."

The company estimates that it could export 5 billion kilowatt hours (KwH) per year, which would net between €268 million ($350 million) and €344 million ($448 million) annually.

Iceland's Minister of Finance, Oddný Harðardóttir, recently announced that she is to appoint a working group to evaluate the options of laying a submarine cable between Iceland and the British Isles, or mainland Europe.

Last week, it was revealed that the U.K. and Denmark are to investigate connecting their electricity grids in order to harness and share power from traditional and renewable energy sources. The U.K.'s grid operator, National Grid plc (NYSE:NGG) (London), said it is working with Danish grid operator, Energinet.dk (Frederica, Denmark), on a feasibility study for the laying of a subsea cable, the first electricity power connection between the two countries. For additional information see May 2, 2012, article - Denmark and U.K. Looking to Connect Power Grids.

In April last year the U.K. and Dutch grids were connected by the BritNed undersea power transmission cable. The 1,000 MW, 260km, high-voltage direct-current (HVDC) cable runs from Maasvlakte to the Isle of Grain in Kent, England. The project cost €600 million project ($764 million). For additional information see April 6, 2011, article - U.K., Netherlands Connect Power Grids.

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