TotalEnergies announced its recent investment in the Xlinks Morocco-UK Power Project, securing a minority stake valued at £20 million ($25 million). The move aligns with the company's strategic goals for the upcoming year.
Notable contributors to the project include Octopus Energy Group from Britain and the Abu Dhabi National Energy Company, both participants in a recent development funding round. Vincent Stoquart, TotalEnergies' senior vice-president of renewables, emphasized the company's expertise in handling extensive and intricate energy initiatives, highlighting the potential success of the endeavor.
The ambitious Xlinks project aims to transmit solar and wind energy generated in Morocco to the United Kingdom through a network of four high-voltage direct current (HVDC) subsea cables spanning 3,800 kilometers (2,361 miles), with the ultimate goal of providing renewable energy to seven million British households.