TotalEnergies Acquires Minority Stake in Xlinks Morocco-UK Power Project
Summary
Xlinks plans to develop a giant renewable project in Morocco (combining solar and wind) to supply green electricity to the United Kingdom through the installation of high-voltage direct current (HDVC) subsea cables, coupled with a large battery energy storage. Simon Morrish, CEO of Xlinks, said: “We are excited to welcome Europe’s largest energy company to be a part of our ambitious vision to foster long distance power exchanges through this iconic partnership with the UK and Morocco. This marks a highly successful end to 2023 and will give us an even greater impetus to achieve our goals as we enter 2024.” Vincent Stoquart, SVP Renewables at TotalEnergies, said: “We are delighted to join the Xlinks project and its other investors to support the development of such a pioneering and ambitious endeavor. TotalEnergies will continue to expand this business to grow its power generation to more than 100 TWh by 2030, with the objective of being among the worlds top 5 producers of electricity from wind and solar energy. The new electricity generation and battery storage facilities, located in renewable energy-rich Morocco, will be connected exclusively to Great Britain via 3,800km HVDC sub-sea cables.