This would allow access to the potential of larger swell waves, but avoid the costs involved in a longer submarine cable if the device was located further out to sea.

The company has burned through $1 billion of cash in the first nine months of the year and could sell its submarine cable business to raise funds to cut debt.

Disruptions of submarine communications cables may cause blackouts or slowdowns to large areas, such as in the 2008 submarine cable disruption.

This installation ran for around 20 years before being replaced by a submarine cable to the mainland.

It offers dry bulk transportation, bulk logistics and transportation, submarine cable installation, and offshore services.