Future Of British Business
Ambitious UK-Morocco Power Cable Gets UAE and Octopus Backing
- Ambitious project would send renewable power to Britain
- Xlinks secures £30 million of funding from the two investors
A wind farm in Morocco.
Photographer: Abdelhak Senna/AFP/Getty ImagesThis article is for subscribers only.
An ambitious project to send green power from Morocco to the UK through a subsea link has secured £30 million ($37 million) of funding from two major investors.
Xlinks First Ltd., which plans to supply almost 8% of Britain’s current power demand from new solar and wind projects in Morocco, has secured £25 million from Abu Dhabi National Energy Co., known as Taqa, and £5 million from Octopus Energy Group.