Xlinks is opening its capital to a new investor in order to accelerate its project in Morocco. It is Octopus Energy, a London-based group specialising in renewable energy. According to Xlinks, this strategic partnership augurs well for the pursuit of its energy ambitions in North Africa.
“This partnership offers a huge opportunity to significantly reduce electricity bills and help the UK achieve carbon neutrality. This investment demonstrates Xlinks’ and Octopus’ ambition to deliver a greener, cheaper future for the British public,” says Simon Morrish, Xlinks’ chief executive. About a year ago, the London-based company announced a project to link the UK with Morocco.
Commissioning as early as 2027
The project involves the installation of a 7 GWp solar photovoltaic complex in the Sahara Desert in Morocco. The installation will be linked to a 5 GW/20 GWh storage system. Also in Morocco, Xlinks plans to build a 3.5 GW wind farm. The electricity generated by the solar and wind farms will be transmitted via a 3,800 km undersea cable to the UK electricity grid from Alverdiscott in Devon and Pembroke in Wales.
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Before reaching England, the submarine cable will cross the territorial waters of France, Spain and Portugal. The submarine cable, which will carry electricity from the Moroccan solar and wind farms, will have a capacity of 1.8 GW and will be capable of injecting 26 TWh of electricity into the British power grid each year – 7.5% of the kingdom’s electricity demand.
“The project will diversify the UK’s supply routes and enhance energy security by delivering 3.6 GW of clean, reliable energy to the UK for an average of 20 hours a day – enough green energy to power around 7 million homes,” the UK company said. The company would still have to invest $25 billion. The price per kWh of electricity will be traded in the UK at $0.67.
Jean Marie Takouleu