A project that will see renewable energy from Morocco power seven million British homes has bagged £30 million in funding.
Xlinks has secured £25 million from UAE-based company TAQA and £5 million from Octopus Energy Group.
The company claims upon completion, the project will have the world’s longest high-voltage direct current subsea cables between the UK and Morocco.
Close to 8% of the UK’s electricity needs will be supplied by the project by 2030, Xlinks has said – with 3.6GW of renewable electricity generated.
The firm will work alongside the UK government’s Department for Energy Security and Net Zero to outline how the power plant can contribute to the UK’s energy mix and landscape.
Solar and wind farms with battery storage will generate the electricity in Guelmim-Oued Noun and it will then be transported to Devon.
Xlinks CEO Simon Morrish said: “The huge potential of the Morocco – UK Power Project will help the UK accelerate its transition to clean sources of power, increase energy security and reduce consumer bills.”
Greg Jackson, Octopus Founder, added: “This is a new global industry and the UK and our partners can do it first, helping cement Britain as a leader in the transition to low cost renewable energy – bringing down bills, powering industry and creating green jobs both in the UK and Morocco.”
“This investment offers the chance to bring both our infrastructure and renewable power expertise to the table to benefit the UK and Morocco,” TAQA Managing Director Jasim Thabet said.