The project isn't funded so currently the UK isn't wasting or spending any resources on it at all, it's just a company that'd like people to give it money.

Nonetheless, adding more windmills isn't going to materially change anything at this point. To push renewables further requires them to be reliable enough to start displacing base load.

I don't personally think this cable idea is good either but more because of the costs and risks of cable cuts (possibly deliberate), than the belief that it can be done in other ways.