A project that aims to transfer electricity between Morocco and the UK through a giant cable has attracted a new investor.
It has been confirmed that Conenergy, a German investor in the European energy market, has made a multimillion-pound investment in Xlinks’ Morocco-UK Power Project.
Xlinks will lay the world’s longest HVDC subsea cables to provide 3.6GW of green power to the UK for an average of 20 hours a day – enough to power about 8% of the country’s electricity needs.
A “financial and strategic” partnership has been signed between Xlinks and Conernergy to collaborate on the ambitious plan.
Founder and Chief Executive Officer of Conenergy commented: “It is bold, innovative, and sustainable and we think represents a game changer on the way to European energy security from renewables.”