UK-Morocco Renewable Energy Link Plan Gets $10.2 Million Boost
- Company will use the money to survey potential cable route
- Xlinks Morocco-UK power project to cost as much as £24 billion
Xlinks’s planned power plant in Morocco will consist of wind turbines, solar panels and batteries.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
GE Vernova Inc. invested $10.2 million in Xlinks First Ltd., the UK company planning a massive renewable power project in Morocco and a 4,000-kilometer (2,500 miles) undersea cable to deliver the energy to Britain.
The investment helped close the latest funding round for Xlinks First, capping $110 million raised to date, according to Chief Executive Officer James Humfrey. It’s an incremental step for the company as it advances a project it estimates will cost as much as £24 billion ($30.1 billion) to construct.