Generation
FID on $30bln Xlinks Morocco-UK power interconnection project set for 2025: Report
The financial close will take place in 2026, with construction starting before the end of next year, Xlinks’ Chairman Dave Lewis told the news agency.
The project is expected to come online in 2031, shortly after the UK’s 2030 clean power grid deadline.
It will connect Morocco’s Guelmim Oued Noun region to the UK via 3,800-kilometre HVDC subsea cables, and includes 11.5 gigawatts (GW) of solar and wind farm capacity, supported by batteries to store excess power.
GE Vernova invested $10.2 million in Xlinks last year, joining other investors such as the UAE’s Abu Dhabi National Energy Co. (TAQA), France’s TotalEnergies SE and the UK’s Octopus Energy.
The project's financial advisors are J.P. Morgan and Societe Generale, according to its website.
Related Articles
Parliament Committee says no need to review three ...
10 Sep, 2024 07:57
Zimbabwe’s Biggest Miners Seek $182 Million for So...
12 Sep, 2024 06:57
GreenGo Energy Expands into Namibia with Strategic...
12 Sep, 2024 07:51
OPEC Fund approves $1.2 billion for development pr...
13 Sep, 2024 08:59
Floating solar starts to gather pace in Africa, as...
13 Sep, 2024 13:18
Prominent South African energy company files for l...
16 Sep, 2024 11:00
Libyan Export Decline and Fed Speculation Propel O...
17 Sep, 2024 08:00
South Sudan says it is ready to restart pumping oi...
17 Sep, 2024 13:23
Interest grows in Africa’s oil and gas hotspot...
18 Sep, 2024 10:42