Power generated by Icelandic volcanoes and sent at hyper-speed down a 1,000-mile subsea high-voltage cable could help save Britain from Spain-style blackouts, one of the City’s most prominent financiers has said.
Edi Truell, a self-proclaimed “disruptive capitalist”, made the claims as he edges closer to a decade-long dream of building a £3.5bn subsea cable that will funnel geothermal power from the hot springs of Iceland to the UK.
Such interconnectors – cables that enable the exchange of electricity between neighbouring countries – “are vital” in the fight against the type of blackouts that unfolded across Spain and Portugal last month, Truell said.
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