HomeDigitalizationBig DataStep forward for Atlantic SuperConnection project

Step forward for Atlantic SuperConnection project

A French investment firm is backing a project to bring power generated by Icelandic volcanoes to generate electricity in the UK.

Meridiam is to fund part of the cost of the Atlantic SuperConnection linking the UK and Iceland, with Sky News reporting the global asset management company is allotting ‘a multimillion’ investment in the 1,000 mile pipeline between the two countries.
Atlantic SuperConnection
Meridiam, a highly credible investor, is currently funding the expansion of La Guardia Airport in New York. The massive subsea interconnection is estimated to cost $4.5bn.

Chinese, Canadian, Middle Eastern and Singaporean pension funds and sovereign wealth funds have expressed interest in investing in the projec.

The Atlantic SuperConnection would use geothermal and hydroelectric power generated by Icelandic volcanoes and hot springs to supply electricity to hundreds of thousands – and potentially millions – of UK households.

A cable manufacturing plant is being proposed for northern England to make the cable, with 2022 mentioned as the year of full operation of the link itself, according to Sky.