TotalEnergies Invests £20 Million in Xlinks: A Groundbreaking Renewable Energy Project

Wednesday 29 November 2023 - 09:00

TotalEnergies is making a strategic move by investing £20 million to acquire a minority stake in Xlinks First Limited, a UK-based company founded in 2019. This places TotalEnergies alongside investors Octopus Energy and Abu Dhabi National Energy Company (TAQA).

Xlinks aims to develop an extensive renewable project in Morocco, combining solar and wind energy, supported by large-scale storage batteries. The ultimate goal is to supply green electricity to the UK through undersea cables. Once completed, this revolutionary project could generate enough reliable and affordable renewable electricity to power over 7 million UK households.

Simon Morrish, CEO of Xlinks, expresses satisfaction with TotalEnergies joining their visionary project. He emphasizes the importance of TotalEnergies' technical expertise in overcoming the unique challenges of the project. This strategic collaboration marks a remarkable close to 2023 for Xlinks and provides significant momentum to achieve their ambitious goals in 2024.

Vincent Stoquart, Director of Renewables at TotalEnergies, shares enthusiasm, highlighting that this innovative partnership will benefit from TotalEnergies' expertise in developing vast and complex energy projects. This alliance promises to be a major catalyst for advancing long-distance energy exchanges between Morocco and the UK.