This would provide “green” power to approximately two million British homes at a price below competing low carbon sources, including new nuclear. This project will also significantly benefit Iceland providing increased grid security as well as significant economic benefits.
The ASC Project has attracted significant interest from both the UK and Icelandic governments; in October 2015 David Cameron launched a Joint task force in Iceland with his counterpart Sigmundur David Gunnlaugsson. In July 2016 this task force gave a positive report highlighting the possibilities for both sides.
Construction is anticipated to commence in 2018 with completion in late 2022 or early 2023. Once completed, the ASC Project will be the longest subsea HVDC cable in the world.