The image above shows an artist's rendition of the North Sea Power Hub.

(TenneT )

In an effort to help reduce Europe’s carbon dioxide emissions, three companies are planning to developa large renewable energy port in the North Sea.

The European-based companiesplan is to build the North Sea Wind Power Hub, which will consist of one or more islands called , according to a release from Netherlands-based electricity transmission system operator (TSO) TenneT. Cables willsend energy between the companies, as well as allow the nations to trade it.

TenneT joined forces with Danish company Energinet.dk and Germany-based TenneT TSO GmbH to develop the system, which will , according to a release from Energinet.

The islands will be built in the Dogger Bank area, which is a large sandbank within the North Sea that was formerly part of Doggerland, in the Stone Age, according to National Geographic.

Because the bank is windy,, the Copenhagen Post reports. Additionally, the area is relatively shallow, which makes it easier to put up the turbines at lower costs.

“We haven’t let our fantasy gain the upper hand, although it may sound a little crazy and like something out of science fiction,” Energinet.dk executive vice president Torben Glar Neilsen told the Copenhagen Post in an interview. “We who have the responsibility of transporting the electricity generated by offshore wind turbines back to land and the consumers must constantly push and make sure that the price continues to fall. That requires innovative big-scale solutions, and an energy hub in the North Sea is worth thoroughly looking into.”

Generated wind energy will be sent to the Netherlands, Denmark, Germany, Great Britain, Norway and Belgium, according to TenneT's release. Between all of the countries, more than 80 million people will be supplied with power from the hub.

In addition to holding the turbines, the hub will also hold solar panels, a harbor, homes and an airstrip, also according to the Copenhagen Post.

Used together, wind and solar powerwill be necessary for a sustainable and stable energy system, states the release. Both sources allow companies to produce electricity sustainably, as there is more sun from spring to autumn and more wind during colder months.

The vision of the three companiessets a foundation for reducing Europe’s emissions up to the year 2050 and focuses mainly on developing the North Sea as a source of energy and distribution center for energy, also accordingto TenneT.

The cost of building an island at Dogger Bank is expected to be more than 10 billion Danish kroner, which is equivalent to more than $1.4 billion USD, the Copenhagen Post also reports.

“This project can significantly contribute to a completely renewable supply of electricity in Northwest Europe,” TenneT CEO Mel Kroon said in the release. “TenneT and Energinet.dk both have extensive experience in the fields of onshore grids, the connection of offshore wind energy and cross-border connections. TSOs are best placed to play a leading role in the long-term development of the offshore infrastructure.”