As you may know, Iceland have an abundance of renewable energy available to them from geothermal and hydro-electric sources. So much, in fact, that, if they were to exploit it all, the spare energy could supply up to 50 million homes in Europe.
Setting up the cable may cost around £1.5 billion but the Icelanders would get around £850 million a year at today's prices. So it would pay for itself within 2 years.
The results of the feasibility study should be out by the end of the year.
More here.
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