Xlinks First Ltd. announced in a press release an investment of $14.1 million from Africa Finance Corporation (AFC), the continent’s leading provider of infrastructure solutions, to continue the development of the electricity interconnection project between Morocco and the Kingdom – United by Xlinks. deliver affordable, reliable and clean energy from Morocco to Great Britain within ten years.
According to the same source, this investment is expected to boost the progress of Xlinks’ ambitious Morocco-UK energy project, aimed at delivering affordable, reliable and clean energy from Morocco to Britain over the next decade.
“And to go into more detail: “Once completed, the project’s wind and solar energy production, combined with a flexible battery storage system, will provide 3.6 GW of clean, reliable and affordable energy, or 8% of the current electricity needs of Great Britain, enough to supply energy to more than 7 million homes. The new power generation and battery storage facilities, located in southern Morocco, will be exclusively connected to Britain via 4,000 km of submarine HVDC cables.
“The project will lead to the creation of thousands of jobs, including a significant part of jobs for skilled workers, supported by training and certification programs, which will help consolidate the pioneering role of Moroccan expertise in renewable energy and as a regional and continental energy hub. The project will also promote the establishment of an integrated renewable energy industrial ecosystem, including the industrial production of renewable energy equipment, transformation, transportation, storage and manufacturing, which together will serve as a locomotive for growth and economic development.
Samaila Zubairu, President and CEO of the AFC, said: “Africa, with its immense renewable energy potential and vast natural resources, is at the forefront of global energy ambitions. Xlinks’ Morocco-UK power link project illustrates this central role and demonstrates Africa’s ability to drive Europe’s shift to sustainable energy while responding to pressing climate challenges. By harnessing the Sahara’s abundant wind and solar energy and transmitting it directly to one of Europe’s largest energy markets, this project will not only boost the growth of the Moroccan economy through significant export revenues, but catalyze also the development of local clean energy industries. As this transformative project progresses, it will not only benefit Morocco and Africa, but will also contribute significantly to the reduction of greenhouse gas emissions, knowing that the majority of the investments intended to lead this transition are being made in the countries of the South. .”
For his part, James Humfrey, CEO of Xlinks First, stated that: “the arrival of the AFC as an investor is an important step in the development of the project. We are pleased to partner with AFC, a leading financial institution established by African sovereign states, including the Kingdom of Morocco. She brings with her an unparalleled understanding and experience of African infrastructure. Its mission, which is to promote economic growth and industrial development on the continent, is perfectly in line with the expected results of the electricity connection project between Morocco and the United Kingdom. »
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