UK Prime Minister David Cameron is reportedly expected to announce the start of a multi-billion project, in order to construct an electricity pipeline to derive renewable energy from Iceland’s volcanoes into Britain.
The ‘interconnector’ has been planned to import Iceland’s hydro and geothermal generated electricity to the UK within the next ten years.
Iceland derives 95% of its energy requirement from these renewable sources, reports ITV News.
However, the remote location of these sources had made energy exports difficult until now.
The 750 mile-long undersea pipeline can help the UK to access that energy in order to meet its rising demands and ensure power security.
UK-Iceland Energy Task Force has been set up to check the feasibility of the scheme, which is expected to submit a report within six months.
The announcement was made by David Cameron following a meeting with Icelandic Prime Minister Sigmundur David Gunnlaugsson.
The UK prime minister is on a visit to the country for the northern future forum where he is likely to meet Scandinavian and Baltic state leaders, and is expected to reinforce the UK’s stay within the European Union.