Africa Finance Corporation is investing $14.1 million in the Xlinks project

The Africa Finance Corporation (AFC), a multilateral financial institution specializing in infrastructure financing in Africa, announced an investment of $14.1 million in this mega energy project in a joint press release with Xlinks First on Thursday, April 25.

According to AFC, this project will not only promote the creation of thousands of jobs, but also consolidate Moroccan expertise in renewable energy. Training and certification programs will be established to support the development of qualified skills and strengthen Morocco’s role as a regional and continental energy hub.

AFC’s involvement in this mega project joins that of other major players, including Chinese state-owned Ningbo Orient Wires & Cables, TotalEnergies, Octopus Energy and Abu Dhabi National Energy Company (TAQA). This diversity of partners demonstrates the scale of international interest in the Xlinks project and its relevance in the context of the global energy transition.

Samaila Zubairu, CEO of the AFC, emphasizes Africa’s strategic importance in the fight against climate change. He says the Xlinks project perfectly illustrates this contribution, harnessing the continent’s renewable energy potential to supply Europe with sustainable energy. Zubairu highlights the positive economic benefits for Morocco and the stimulation of the development of local clean energy industries.

For James Humfrey, CEO of Xlinks First, the AFC investment represents a crucial step in making the project a reality. It highlights AFC’s expertise and experience in African infrastructure, and emphasizes the shared vision to promote economic growth and industrial development in Africa.