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Posts from the ‘Subsea Interconnector’ Category

May 6

The importance of diversifying Europe’s energy sources

Economist-Euorope-Energy-Security-april-2014-3The Economist recently wrote about how Europe is highly vulnerable to Russian control over gas supplies – and how Europe can reduce its reliance on Russia by changing generating technology. In the article, it states that “better electricity interconnectors could reduce that need for gas by making it easier to export electricity from renewables-rich markets like Germany on sunny or windy days and to import it on dark or still ones.“ This brings attention to the great importance of strengthening the electric grid in Europe and construct new electric cables, such as to Norway and to Iceland.

The Economist correctly points out that interconnectors can help substitute one type of renewable energy for another. Hydropower (like gas-fired power stations) can easily be turned on – when the wind in Germany or United Kingdom  falters. But hydropower is not evenly spread. As stated in the article, “Sweden and, particularly, Norway have a lot of it, Germany and Benelux not so much.” Iceland is a country with abundant hydropower, that by far exceeds the country’s own electricity needs. In addition, Iceland also has extensive geothermal resources, that offer stable electricity generation for domestic use and for exports via submarine electric cable(s). Thus, Icelandic energy can be an excellent option for diversifying Europe’s energy sources.

Icelink-Bloomberg-HVDC-2“Forging such links requires a pan-European push”, the Economist-article continues. To make it work on a large scale will require new pricing strategies to recompense the owners of fossil-fuel plants pushed off the grid when renewable energy from other countries flows in. According to the Economist, Norway could generate much more hydropower, given a market. The Economist states that there are currently plans for up to five new interconnectors from Norway to the EU to be built by 2020, with a capacity of up to 5GW. An inteconnector to Iceland would easily offer 1 GW more.

In last March (2014) the EU’s Heads of Government told the EU Commission to produce a plan for reducing energy dependence. The plan is to be finalized by June, and some of the key elements of the strategy are to include an in-depth study of EU energy security and plan for the diversification of supply. That is likely to give a push to storage capacity and both more and larger interconnectors. Iceland is the world’s number one electricity generator per capita and still has substantial unharnessed hydro- and geothermal resources. Thus, the development and implementation of such an action plan may offer very interesting possibilities for the Icelandic energy sector.

Apr 30

Feasibility of IceLink (Iceland-UK interconnector)

The Icelandic Energy Portal is cooperating with the University of Iceland and Reykjavik University, as scientific and educational partners. Thus, we sometimes introduce research by university scholars and students. Today, we will focus on the findings in a recent thesis towards MSc in Sustainable Energy at Reykjavik University, by Mr. Randall Morgan Greene.

HR-RU-WelcomeThe title of the thesis is “Iceland-UK Interconnector: Strategy for Macroeconomic and Legal Feasibility”. According to the thesis, the UK must undertake drastic changes in their energy system if they are to achieve energy policy goals of competitive electricity prices, ensuring security of supply, and decarbonization of generation. Interconnection with Iceland, which is dominated by renewable energy, could offer an enticing, cost-competitive alternative to building new low-carbon generation in the UK and carries the potential for positive economic and technical benefits for both countries.

However, the author points out that the structure of EU and UK electricity systems and legislation places some blockades in this project attaining legal and macroeconomic feasibility. While there is some regulatory uncertainty associated with it, there is a potential that the status quo merchant interconnection investment model could be applied to the Iceland-UK in order to attain the aforementioned feasibility – especially if there is a potential for the application of the emerging legal precedent and business model framework in the Imera/ElecLink merchant interconnection exemption request (at this stage the concept of ElecLink seem to be advancing faster).

LV-HVDC-Iceland-UK-London-august-2012-1The macroeconomic feasibility of this framework could potentially be strengthened if there is a possibility to apply the UKs new Feed-in-Tariffs with Contract-for-Difference (FiT CfD) to generators in Iceland. The Imera/ElecLink framework adequately covers investor concerns over stable, long term returns while satisfactorily addressing regulator concerns over competition and third-party access rules for transmission assets. When combined with the FiT CfD program, there is a strong potential that this project can attain macroeconomic feasibility while still being feasible under EU energy legislation.

However, due to the ElecLink exemption not being due till spring 2014 and there being no clear precedent concerning the application of the UKs FiT CfD program to non-UK generators, this potential still requires more in-depth investigation. For more information, this link will take you to the whole text (pdf) of the thesis “Iceland-UK Interconnector: Strategy for Macroeconomic and Legal Feasibility”.

Apr 10

UK is looking to Iceland for electricity

In last March (2014), UK’s National Grid published a new paper exploring the potential benefits of greater electricity interconnection. According to the paper, new interconnectors will have positive economic and environmental effects. The benefits include lower energy prices for consumers, enhanced energy security, a cleaner environment and wider macro-economic effects. National Grid believes that a full understanding of the benefits of greater interconnection is important to inform the debate on an appropriate ambition to meet the country’s need, and the timeframe within which it should be achieved

UK_National-Grid-Interconnectors-fig4-march-2014The debate on how the United Kingdom (UK) can best meet its energy needs has intensified over recent months. There is broad agreement that energy should be affordable, greenhouse gas emissions need to be reduced, and energy supplies need to be reliable for businesses and consumers to facilitate the UK’s economic recovery. Despite these benefits, Britain’s 4 GW of existing interconnector capacity is relatively small; representing around 5%of total installed electricity generating capacity. This compares with the benchmark highlighted by the European Commission in January 2014 for all EU Member States to have a level of electricity interconnection equivalent to at least 10% of theirinstalled production capacity to realize the full benefits of the Internal Energy Market.

In order to reach this benchmark Britain would need to double its existing interconnector capacity.Britain is therefore poised to complete the final design elements of the new regulatory regime, enabling developers to secure the considerable capital required to deliver these complex and technically challenging projects. Through continuing to work together, the above stakeholders are now well placed to build on the successful momentum developed to date, to secure the necessary regulatory and investment decisions for a 4-5 GW portfolio of new links in 2014/2015 and unlock the benefits including a GBP 1 billion wholesale electricity price reduction per year by 2020.

UK_National-Grid-Interconnectors-fig3-march-2014As renewable electricity forms an increasing part of the energy mix, interconnection is becoming an important tool in managing the intermittent power flows associated with these sources. Based on the consumer, energy security, environmental and economic benefits which could be accessed, greater GB electricity interconnection is considered a ‘no regrets’ investment by a wide range of informed stakeholders within the UK and beyond. This consensus includes the UK Government, the regulator, consumer organizations, green groups, think tanks, academics and the main European Union institutions.

An interconnector between UK and Iceland (sometimes referred to as the IceLink) could become an important part of the additional interconnection. UK already has four interconnectors to France, Holland, Ireland, and Northern Ireland. These links, with a total capacity of 4 GW, represent around 5% of the existing electricity generation capacity in the UK. However, this level remains low compared to the 10% benchmark proposed by the EU Commission and there is strong consensus that this gap should be filled.

While GB remains a net importer of power, economic benefits are available through greater disposable income from lower domestic electricity prices, and enhanced competitiveness for businesses benefitting from reduced energy input costs. Were a portfolio of new projects to be commissioned, the economy would also benefit from new jobs created in activities such as planning, construction and maintenance. They could also catalyse new domestic manufacturing industries in areas such as sub-sea cabling.

Electric interconnectors allow low carbon electricity to flow between European countries more easily and could enable carbon and renewables targets to be met more cost effectively. Significant volumes of low carbon electricity could, for instance, be imported into UK from hydropower in Norway, wind power in Ireland and Denmark, nuclear in France and hydropower / geothermal energy in Iceland.

Copyright statement regarding the NG Paper: © National Grid Interconnector Holdings Limited 2014, all rights reserved.

Apr 1

New electric interconnector: Sweden-Germany

On March 27th 2014, plans for one more electric cable connecting the European mainland with the Nordic countries were revealed. The plans involve a new high voltage interconnector between Sweden and Germany. The interconnector is called Hansa PowerBridge.

Svenska-kraftnat-logoThis took place at the Annual Stakeholder Meeting of the Swedish National Grid (Svenska kraftnät) in Stockholm. The day after (March 28th 2014), Mr. Mikael Odenberg, CEO of Svenska kraftnät, and Mr. Boris Schucht, CEO the German Transmission System Operator 50Hertz, signed a Memorandum of Understanding (MOU) at the German Embassy in Stockholm. The signing was made in the presence of Mr. Rainer Baake, German State Secretary at the Ministry for Economics and Energy and Mr. Christian Pegel, Minister for Energy in Mecklenburg-Vorpommern.

50hertz-logoAccording to a press release from 50Hertz and Svenska kraftnät, the main objective under the MOU is to examine the feasibility for such a new link between Sweden and Germany. In a joint statement from the companies, such an interconnector is said to be another step towards a better integrated European grid and will allow for increased electricity trade between Germany and Sweden and contribute to the security of supply.

Such a new interconnector between Germany and Sweden is believed to make sense both from a commercial and from an environmental point of view. It links directly the huge storage potentials in Sweden to the wind electricity production centres in Northeastern Germany, thus creating value for both partners. The new interconnector is intended to be put into operation within the next decade. This is one more interesting project to have in mind, regarding the possible interconnector between Iceland and Europe.

Mar 10

Study on cost of IceLink: 2.7 billion USD

The cost of a 1,200 MW HVDC electric submarine cable between Iceland and the United Kingdom (UK) is likely to be GBP 1.58-1.68 billion (USD 2.63-2.80 billion). This includes the cable (with a capacity of 1,200 MW), converters, cable mobilization, and installation. These cost-figures are presented in a research paper from 2010; Proposed Iceland / UK (Peterhead) 1.2 GW HVDC Cable. The authors are three engineers; Thomas J. Hammons from University of Glasgow in Scotland, Egill Benedikt Hreinsson from University of Iceland, and Piotr Kacejko from Lublin University of Technology in Poland.

LV-HVDC-Iceland-UK-London-august-2012-2The subject of the paper is a 1,200 MW connector from Iceland to a landing point at Peterhead Scotland (a distance of 1,170km). The paper addresses market considerations with cost of electricity in UK (from new offshore and inland wind power, gas, coal, and nuclear), investments for the development of hydro resources in Iceland, investments for submarine cables and converter plant, and overall capacity of the link. Also reviewed by the authors, is the exploration of deep unconventional geothermal resources in Iceland that could be harnessed in future and developed for the IceLink. The economics, availability, and reliability of geothermal plants are reviewed. [The slide above is from a recent presentation by the Icelandic power company Landsvirkjun}

According to the paper, there should be no major difficulties in the manufacture and laying of submarine cables of length and type necessary for the IceLink connector. What is no less interesting is the finding that the cost of delivered energy would be very competitive with offshore and onshore wind, and of new coal/gas and nuclear plant. Also, the connection would offer high reliability; at least equal to that of new coal/gas and nuclear plant in the UK.

The main conclusions are as follows:

  1. Cost of electricity delivered would be very competitive with that from new wind-farms, nuclear, modern gas/coal fired plant, and tidal barrage / tidal stream power.
  2. Availability of the connection should at least equal that from nuclear, and gas/coal fired plant.
  3. No major difficulties are anticipated in manufacturing, laying and repairing the submarine cables or in construction of hydro schemes for the Link.
  4. Expected life for hydro developments is at least 60 years, submarine cables 50 years, and rectifier/inverter stations 30-40 years.
  5. The link could be considerably expanded in future to utilize deep-well geothermal power when the technology is proven.
  6. The contribution would make a significant contribution towards UK and European targets for renewable energy. The development would benefit the Icelandic economy, rather than demanding huge amounts out of a heavily damaged economy without supporting necessary recovery.
  7. The Icelandic hydroelectric system is likely to be a perfect match for interacting with the UK/North sea wind energy resources in a similar way as the Norwegian hydroelectric power system.
  8. The HVOC UK-Iceland link can serve partly as a one­ way exporter of hydroelectric or geothermal energy from Iceland to the UK or it can be considered as a short term bilateral medium for hourly interaction of hydro with marketslwind based on market signals or short term shadow prices. This dual role should be further defined in a negotiation process between the respective national authorities.

IceLink-Study-University-of-Iceland-2010The study can be downloaded here (pdf) from the website of University of Iceland.

Feb 25

Icelandic electricity would be competitive in the UK

In a recent study, Bloomberg New Energy Finance (BNEF) assessed the political, technological and economic feasibility of an 1,100 km interconnector to bring green Icelandic electricity to the United Kingdom (the project is called IceLink).

BNEF-logoAccording to BNEF, the prospects for implementation of such a project seem quite positive. All the technological and economic barriers regarding the IceLink are believed to be surmountable.

Regarding the economics , BNEF claims that the project is competitive in relation to other zero-carbon options. This for example applies to new offshore wind-farms in the UK and also to the recently agreed Hinkley Point C nuclear project. Electricity produced in Iceland and delivered in the UK, could be lower priced than the confirmed contract-for-difference (CfD) strike prices that have been confirmed for new renewable electricity projects in the UK (as announced by the UK Department of Energy and Climate Change; DECC).

The electricity from the IceLink would have a levelized cost of 86 GBP/MWh (close to 145 USD/MWh) as central estimate by BNEF. This number is based on BNEF’s analysis of the costs of high voltage direct current (HVDC) cable development and geothermal build-out in Iceland. In comparison, DECC’s announced strike price for electricity produced in the UK by hydropower is 100 GBP/MWh (165 USD/MWh), and 140-145 GBP/MWh (235 USD/MWh) for geothermal power.

BNEF-summit-2014What is even more interesting, regarding the competitiveness of the green Icelandic electricity, is the UK strike price for electricity from wind power; 140-155 GBP/MWh (approximately 250 USD/MWh). Wind power is the UK’s major source for increasing renewable electricity. However, this technology is substantially more costly than buying electricity from Iceland via subsea cable. In addition, the wind power is very unstable, while the Icelandic hydro- and geothermal power is a very stable power source. Thus, the cable could be excellent business for the UK. At the same time it could create strong new export revenues for Iceland.

Jan 27

UK National Grid: IceLink is feasible, achievable and viable

Economist-Iceland-UK-HVDCAccording to a recent article in the Schumpeter column of the Economist, the proposed IceLink power cable between Iceland and Britain seems to be getting a deservedly serious hearing.

The IceLink would be the longest undersea cable in the world, at at least 1,000 km, costing on current estimates billions of EUR.  According to the Economist It would take four years to construct the cable and would have a capacity of 1,000 MW. And the Economist is very positive about the project:

Iceland is in a unique position with regard to energy: it has in effect unlimited power, from both geothermal and hydro-electric. Apart from keeping the hardy Icelanders warm, it also runs aluminum smelters. But exporting electricty would give the small island economy a new source of income (the main other ones, since the collapse of the financial bubble, are fish and tourism).

HVDC-Cable-Iceland-Europe-map-slideThe Economist goes on by pointing out that the attraction of the IcLink for Britain is flexibility. The increasing dependence on wind energy, which produced a record ten percent of Britain’s power in last December (2013), may be questionable from an economic point of view. And it creates a technical difficulty too: if the wind drops, you need a speedy alternative source of power. When it blows strongly, you need somewhere to store it. Iceland’s stable geothermal- and hydro-electric generation is ideal for both purposes. But Britain has rather little hydro and close to none geothermal.

According to the Economist, the UK National Grid (the transmission operator for electricity and gas) likes the project, describing it as “Technically feasible…Politically achievable…Commercially viable”. Britain and Iceland signed an intergovernmental memorandum of understanding on the project in 2012. In June last year, the project won backing from an UK cross-party government advisory committee. Now the British government is waiting for the Icelandic side to come out with a firm proposal.

Jan 13

University research on HVDC development

The Icelandic Energy Portal is cooperating with Reykjavik University and the University of Iceland, as scientific and educational partners. Thus, we sometimes introduce research by university scholars and students. Today, we will focus on the findings in a recent thesis towards MSc in Industrial Engineering at the University of Iceland, by Ms. Svandís Hlín Karlsdóttir.

University-of-iceland-MSc-Engineering-1The title of the thesis is “Experience in transporting energy through subsea power cables: The case of Iceland”. It analyses the experience from subsea power cable projects in Europe to bring new aspects and gain more information and insights to this project. The main focus is on technology, reliability and environmental impact. In the thesis, this study of the European experience is transferred to Iceland and is evaluated as to which technology is suitable for Icelandic conditions, what to avoid and what to keep in mind, and also to evaluate the reliability of possible subsea power cables from Iceland to mainland Europe, or to Great Britain.

Technology

The need for increased renewable energy source utilization has forced the technology forward. Challenges are constantly confronted with new developments in technology. The development in material and manufacturing processes has increased power capacity and voltage rating and made the cables more robust. The cable systems are frequently being laid at greater depth and over longer distances. The maximum power capacity is 800 MW (single cable) at 500 kV or 1,000 MW (two cables) at 320 kV, for mass-impregnated cables and extruded XLPE cables, respectively. The key factors to a successful HVDC subsea power cable project is a thorough marine survey to find the most suitable route and for design of the cable. Great expertise in installation method is also crucial, concerning choice of vessel, equipment and crew.

Reliability

Savings in investment cost, which could lower the reliability of the cable system, could result in higher operation and repair cost in the future. When a cable is damaged and is in need of repair, there is always need for a specialized vessel, equipment and crew. That is independent on the size of the damage and could therefore be a big part of the repair. The time waiting for weather can also be very expensive. Additionally there is loss in revenues when no power is transmitted. Those considerations must be optimized during planning and designing of a cable project.

With prior experience and development of subsea cable systems the reliability has improved. From 1986 to 2009 the reliability has improved from 0.264 failures/year/100km to 0.100 failures/year/100km. Operation procedures with real-time monitoring improve maintenance of the system which can prevent major damage to occurring, resulting in better reliability and longer life time of the system.

Environmental impact

When implementing such a large complex electrical system there are always concerns about the environmental impact. According to the latest researcher and environmental impact assessments in Sweden there are no threats to the surrounding area and it will not suffer permanent damage, from installation and operation of the cable. Latest technological developments have decreased the electrical magnetic field and improved installation methods. The magnetic field is so low that sensitive marine life and ship compasses have not been influenced in a bad way, according to the latest research.

The case of Iceland

The cable route from Iceland to mainland Europe will lay under the North Atlantic Ocean passing the Faroe Islands and will be approximately 1,170 km long and reach a depth of 1,200 m. The suitable technology for Icelandic conditions is two mass-impregnated single- core cables, each transmitting 500 MW at 400-450 kV in a bi-polar configuration. That solution improves reliability and eliminates magnetic fields. It is recommended to have copper conductor at the shallower parts and aluminum for the deeper colder part because of the increased laying tensions. Cable burial of at least 2 m is recommended for the whole route to protect against external violence where possible.

University-of-iceland-MSc-Engineering-2The failure rate for the subsea cable between Iceland and mainland Europe is estimated at 0.1 failure/year/100 km which results in 1 failure a year. The outage duration for each repair is dependent on fault location and weather conditions. For a fault location near shore there is more accessibility of weather window which reduces outage duration. The outage duration is higher far offshore but there is also less probability of damage, as the cable will be laid at great depth. The availability on the subsea cable is variable between seasons and locations. During winter the access to repair is less than during other seasons. The average unavailability of the system due to damage is estimated at 12% but with less probability of damage at great depth the unavailability is less, or near 10%.

If sensitive marine species can be avoided along the cable route, the environmental impact is estimated to be low. There is no relation between magnetic fields of HVDC subsea cables and threat to marine life and with the cable type recommended there is no danger of chemical impact, or oil leakage. By laying the cables close together the magnetic fields can be eliminated. Landmarks on the sea bottom formed during cable burial is said to recover in approximately one year.

Future work

Developments in technology are of special interest. Future technology like superconductors and advanced maintenance tools being developed will increase power capacity and minimize duration of outages, resulting in more asset feasibility. Also, the expected future development of extruded XLPE cables will be of importance. Possible future projects could consist of more specific analysis of the sea state to evaluate suitable routes based on reliability of different locations and to collect real operation data from the owners and operators of the HVDC subsea cable systems.

Jan 6

UK National Grid showing interest in IceLink

According to news from Norwegian energy information provider Montel, the cost of electric power from the potential subsea interconnector linking the UK with Iceland  will be around GBP 100/MWh (164 USD/MWh). This new subsea cable, which is sometimes referred to as the IceLink, would thus offer electric power at substantiall lower prices than for example from offshore wind.

Icelink-HVDC-UK-NG-nov-2013-5The IceLink would be a high voltage direct current (HVDC) cable, with a power capacacity of 700-1,000 MW.  It would be 1,000-1,500 km long, making it qute a bit longer than any existing subsea cable of this kind today. The longest subsea electric cable is currently the 580 km NorNed cable between Holland and Norway. Longer cables of this type are being planned, such as a cable between Norway and the United Kingdom that will be more than 700  km long, and even longer cables in the Mediterranean.

Mr Hörður Arnarsson, CEO of the Icelandic  state owned power company Landsvirkjun has expressed that the Icelink cable could add “very valuable” flexibility to offset intermittent renewables production in the UK. Landsvirkjun generates 75% of all electricity used in Iceland.

Icelink-HVDC-UK-NG-nov-2013-4In May 2012, Icelandic and UK ministers signed a memorandum of understanding over a new interconnector between the countries. The UK TSO National Grid has been showing interest in the Icelink, focusing on issues such as supply diversification, and gaining access to the reliable hydro- and geothermal energy resources of Iceland.

In the last few months,Mr. Paul Johnson, Project Director and Head of Cables at National Grid, has at numerous occasions expressed that the need for such an interconnector between Iceland and the UK has come to the fore. According to Mr. Johnson, the IceLink is a realizable goal and there is political will for the connector. Mr. Charles Hendry, MP and former UK Energy Minister has been of the same opinion, as the IceLink project offers low-risk, predictable returns attractive to investors, such as pension and infrastructure funds.

Icelink-HVDC-UK-NG-nov-2013-7

According to Montel, the costs of the IceLink are estimated at GBP 4 billion, with it being possibly completed by 2022. The project could supply up to 5 TWh of power annually to Britain from hydro, geothermal and wind sources in Iceland.

While Icelanders still need to engage in national discussions about the costs and benefits of a subsea power cable to the UK, policy makers in the UK seems to agree on the project. In addition, the President of Iceland, Mr. Ólafur Ragnar Grímsson, has addressed leaders and people in the energy business, expressing his view that the Icelanders and the Brits should jointly examine the options of an interconnector.

Iceland-UK-BICC-meeting-Nov-2013-ORG-2At an energy conference in London in last November (2013), Mr. Grímsson said the proposed IceLink should be hard-headed analysis driven by engineers and energy specialists. “We should listen to the government in Britain…then in two to three years we can come back to the table and make the real decision.”

Grimsson said popular support was necessary before a project to bring geothermal power from Iceland to the UK could get off the ground. “As we move forward we need to bring all segments of Icelandic society into this discussion,” he said. “Then we will take a decision based not only on the business sense and the technical feasibility [of the project] but on the national will,” Grimsson said, adding that unless “there is a broad national will behind this, you will never get the necessary players on board”.

The three slides above are from a presentation given by Mr. Paul Johnson from UK National Grid, at the Bloomberg Icelandic Energy Summit. It took place in London on November 1st 2013.

Dec 2

Upcoming new world-record subsea electric cables

An electric subsea cable between Iceland and Europe is currently being considered.

HVDC-Euroasia-Interconnector-map-2The cable, sometimes referred to as IceLink, will be approximately twice as long as the longest subsea electric cable today, which is the NorNed cable between Holland and Norway (NorNed is 580 km, with a capacity of 700 MW). It seems likely that we will soon see a substantially longer cable than the NorNed, which will be a new cable between Norway and the United Kingdom (this new cable will be more than 700 km long, with a capacity of 1,400 MW). However, an even more ambitious project is being planned in the Mediterranean; the EuroAsia Interconnector.

The EuroAsia Interconnector project aims to link the power grids of Cyprus, Greece (including both Crete and the Greek mainland) and Israel. The total length of the cable will probably be between 1,000 and 1,500 km, and have a capacity of 2,000 MW. It will travel through an enormous depth of more than 2,500 m.

HVDC-Euroasia-Interconnector-2Firstly, a 330 km cable will link Israel with Cyprus. Further, Cyprus will be connected with the Greek island of Crete via an 880 km long cable. From there Crete will be connected to Greece via a 310 km long cable, providing a connection to the pan-European electricity grid.

In March 2012, Cyprus and Israel initiated a feasibility study to explore the possibility of the EuroAsia Interconector connecting the grids of the two countries. The project is expected to be completed in 36 months from the start of construction. The interconnector will be funded and developed by DEH Quantum Energy, a joint venture consisting of Greece’s DEH and Cyprus’ Quantum Energy, with the Bank of Cyprus as a minority shareholder.

HVDC-Euroasia-Interconnector-1In comparison with the EuroAsia Interconnector, the IceLink between Iceland and Europe seems to be a very positive and even a simple project. While the EuroAsia Interconnector will mainly transfer electricity generated by burning natural gas, the IceLink is based on renewable hydro- and geothermal power. The IceLink is likely to be close to 1,200 km (if connecting Iceland and UK) and the maximum depth of the route is close to 1,000 m. As the depth is one of the main challenges for subsea electric cables, it is interesting that the EuroAsia Interconnector will be at more than twice as much depth as the IceLink.

The EuroAsia project has recently been added to the European Commission’s list of Projects of Common Interest (PCI). This recent list of 248 key energy infrastructure projects was adopted by the European Commission on 14 October 2013. These projects will benefit from faster and more efficient permit granting procedures and improved regulatory treatment, and may also have access to financial support from the Connecting Europe Facility (CEF). The CEF has a budget of EUR 5.85 billion that has been allocated to trans-European energy infrastructure for the period 2014-20. The current plan is to have the EuroAsia Interconnector up and running as soon as 2017.

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