Energy Capital & Power

Morocco: TotalEnergies Invests $25M in Xlinks

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French energy major TotalEnergies is acquiring a minority stake in UK project developer Xlinks First Limited in a $25-million transaction.

The acquisition will see the French company contribute towards the development of a planned renewable energy project – which will bring solar power from Morocco to the UK –  alongside British renewable energy group Octopus Energy and state-owned Abu Dhabi National Energy Company.  

The project comprises the development of both solar and wind resources in Morocco, as well as the installation of high-voltage direct current subsea cables, linking the North African country with the UK. Following the project’s completion, up to seven million households in the UK are expected to benefit from clean and affordable power.

According to Vincent Stoquart, Senior Vice President at TotalEnergies: “This innovative project will benefit from our track record in developing large and complex integrated energy projects.”

“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. TotalEnergies’ investment goes far beyond capital, providing a rare combination of expertise in areas that meet the unique challenges we face,” stated Simon Morrish, CEO of Xlinks.

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Charné Hollands

Charné Hollands

Charné Hollands is the Deputy Editor at Energy Capital & Power. She holds a Higher Certificate in Professional Photography and Masters in Media Studies from the University of Cape Town. Charné writes content for ECP's website and events as well as co-authored African Energy Chamber: Road to Recovery.

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