Africa Finance Corporation (AFC) has invested $14.1 million in Xlinks’ Morocco-UK Power Project.
The project aims to deliver affordable, clean energy from Morocco to Britain over the next decade, with a capacity to power seven million homes.
Additionally, the project is expected to create job opportunities and support the growth of a renewable energy ecosystem in Morocco.
Samaila Zubairu, AFC’s President & CEO, highlighted the project’s transformative impact on greenhouse gas emissions and economic development.
Samaila Zubairu said: “Africa, with its immense renewable energy potential and vast natural resources, stands at the forefront of global net zero aspirations.
“Xlinks’ Morocco-UK Power Project exemplifies this pivotal role, showcasing Africa’s capability to fuel Europe’s shift to sustainable energy while simultaneously addressing urgent climate challenges.
“By harnessing the abundant wind and solar power of the Sahara and channeling it directly to one of Europe’s largest energy markets, this project not only boosts the growth of Morocco’s economy through significant export revenues but also catalyses the development of local clean energy industries.”
James Humfrey, CEO of Xlinks First, expressed optimism about the partnership with AFC and their shared commitment to African infrastructure development.
AFC has become the most recent significant investor in Xlinks First, alongside Abu Dhabi National Energy Company (TAQA), TotalEnergies and Octopus Energy.
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