The cable itself is expensive to make and hard to install, but I believe we will put cablemaking equipment onto a ship, and sail it at 1mph all the way from the equator to northern europe, with other ships bringing shipments of copper, steel, and polymers to keep it going.
The cable will be fed by lower voltage feeders, and voltage conversion done by stacked MOSFETS (600V MOSFETS, 5000 of them stacked, and all encased in polymer - at these voltages, air isn't a good enough insulator unless you have absolutely huge buildings.) Each stack can add or remove 300 megawatts of power from the cable - so you need a couple per powerstation or city