Most competitive energy prices in Europe offered by Landsvirkjun in Iceland

A submarine power cable to the UK or the European continent is a potential win-win project for both Iceland and the receiving country in Europe stated Mr. Magnus Bjarnason, EVP Marketing and Business Development for Iceland’s leading renewable energy company, , at the Submarine Power Cable & Interconnection Forum in Amsterdam today.

At the forum, Mr. Bjarnason presented opportunities associated with the continued development of hydro, onshore wind, and geothermal renewable energy in Iceland.

According to Landsvirkjun, Iceland offers the most competitive energy prices for industries in Europe. Current demand for the power comes from existing industries such as aluminum, data centres, and other new emerging sectors that see benefits in locating in Iceland, in addition to a potential interconnector to the UK or the European continent.

The potential interconnector complements the successful industrial strategy in Iceland, where global power consumers such as Rio Tinto Alcan, Alcoa, BlueStar Elkem, and Verne Global Data Center, owned by the UK based Welcome Trust, have located their operations in the country and all plan to continue developments due to the competitive environment in Iceland.

“A submarine power cable to the UK or the European continent is a potential win-win project for both Iceland and the receiving country in Europe due to competitive pricing, enhanced security of baseload energy supply, and the fact that the renewable energy counts towards the EU 2020 targets. With an interconnector, Iceland will have an even more efficient electricity system that continues to offer progressive global companies the most competitive terms available in Europe,” stated Mr. Bjarnason during the conference.

This Marcus Evans 2nd annual Submarine Power Cable Interconnection Forum, taking place in Amsterdam, Netherlands between 23rd – 25th May, brings together the leading minds in  electricity cable and interconnections to develop their understanding of how to overcome the challenges presented by the laying of submarine cables.

For more information regarding renewable energy in Iceland, visit .

 

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