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Morocco-UK power project gets £30m funding boost

April 27, 2023 at 9:01 am

The Abu Dhabi National Energy Company (TAQA) logo [Rafael Henrique/SOPA Images/LightRocket via Getty Images]

The Abu Dhabi National Energy Co. (TAQA) and Octopus Energy Group will finance the Morocco-UK power interconnector project to the sum of £30 million ($37m), the two companies announced on Wednesday in a joint statement. TAQA is providing £25m ($31m) and Octopus Energy will allocate £5m.

Built by Xlinks First Ltd, the project will see the installation of high-voltage submarine cables between the United Kingdom and Morocco. The cables will be the longest in the world and will pass through Portugal, Spain and France.

Once completed, Xlinks will provide Britain with 3.6 gigawatts of electricity generated from renewable energy sources in southern Morocco. This represents eight per cent of the UK’s current energy needs, and will make it possible to supply seven million British homes with energy by the end of this decade.

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