Using a subsea link, an ambitious project to transport green energy from Morocco to the UK has received investment from two significant investors totaling £30 million ($37 million), as seen in the American software, data, and media company, Bloomberg.
Xlinks First Ltd. has received £25 million from Abu Dhabi National Energy Co., also known as Taqa, and £5 million from Octopus Energy Group in order to provide roughly 8% of Britain’s current energy needs through new solar and wind projects in Morocco.
Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, commented: “As a champion of low carbon power and water, TAQA’s investment in the Xlinks project shows that we are serious about helping reduce emissions whilst maintaining the security of energy supply that societies depend on. We are already working on a large-scale HVDC subsea project in Abu Dhabi, and we own and operate one of the world’s largest solar PV plants. This investment offers the chance to bring both our infrastructure and renewable power expertise to the table to benefit the UK and Morocco.”
As part of the Morocco-UK Power Project, Xlinks First Limited, a low-carbon energy transition company, is developing plans to lay the world’s longest high-voltage direct current (HVDC) subsea cables between the UK and Morocco, passing through Portugal, Spain, and France.
A 10.5GW complex of solar and wind farms will provide the power in the Guelmim Oued Noun area of Morocco, complemented by 20GWh/5GW of battery storage. Four 3,800km undersea HVDC cables will connect the plant in Devon, South West England, to the UK power system. These cables will be made in the UK.
It’s a hefty expenditure for the power project, which entails the mostly unprecedented challenge of supplying four cables buried deep under the ocean with electricity to power two different countries. By 2030, Xlinks expects to have built the longest high-voltage direct current submarine lines in history.
According to a statement released on Wednesday, the energy would come from a 10.5 gigawatt facility of solar and wind farms that will be assisted by 5 gigawatts of battery storage. According to the firm, users may receive electricity at a price that is far lower than current wholesale costs.
A team from the UK’s Department for Energy Security and Net Zero has been assembled to collaborate with Xlinks on the initiative, which, according to the business, may generate 10,000 jobs in Morocco.
