The Africa Finance Corporation (AFC) has announced an investment of $14.1 million (£11.2 million) into Xlinks to further the development of its Morocco-UK Power Project.
The project – set to provide affordable clean energy from Morocco to Britain within a decade – has reached a milestone with AFC’s support, affirming Morocco’s role as a continental renewable energy leader and demonstrating how Africa’s renewable energy potential can provide solutions to benefit the global energy transition.
Samaila Zubairu, AFC president and chief executive officer, 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.”
AFC’s announcement comes a year after the UK’s Octopus Energy and Abu Dhabi National Energy Company PJSC invested £5 million and £25 million, respectively.
James Humfrey, CEO of Xlinks First, said: “Securing AFC as an investor is a significant step forward in the development of the project. We are excited to be partnering with AFC, a leading financial institution created by African sovereign states, including the Kingdom of Morocco.
“They bring an unparalleled understanding of, and experience in, African infrastructure. Their mission – to foster economic growth and industrial development on the continent – aligns closely with the planned outcomes of the Morocco-UK Power Project.”
Xlinks Morocco-UK Power Project
Interconnection, connecting the electricity systems of neighbouring countries, is a vital implement in reaching net zero.
The Xlinks project, unveiled in September 2021, is a 11.5GW connection consisting of four High-Voltage Direct Current (HVDC) subsea cables between a solar and wind farm co-located with a 5GW/22.5GWh onsite battery storage facility in Morocco’s Guelmim Oued Noun region and Alverdiscott near the north coast of Devon, England.
Due ti the sheer scale and importance of the project, the Morocco-UK power project was deemed a Nationally Significant Infrastructure Project (NSIP) by the UK secretary of state for energy security and net zero in October 2023.
Once complete, the project’s wind and solar generation, combined with flexible battery storage, will supply 3.6GW of clean power that is expected to deliver 8% of Britain’s current electricity needs.
It will be connected exclusively to Britain via 4,000km HVDC subsea cables. Current± sat down with XLCC to discuss building the “world’s largest” cable-laying vessel, which you can read here.
