Xlinks First Ltd., a renewable energy firm, has secured a $14.1 million investment from the Africa Finance Corporation (AFC), a leading infrastructure solutions provider in Africa. This funding will further advance the Morocco-UK Power Project, a significant initiative set to deliver affordable, reliable, and clean energy from Morocco to Britain within a decade.
AFC’s investment underlines Morocco’s role as a renewable energy leader in Africa and highlights the continent’s potential to contribute to global energy solutions. The project will generate wind and solar power, coupled with battery storage, to supply 3.6GW of clean energy, meeting 8% of Britain’s current electricity needs, equating to powering 7 million homes. The energy will be transmitted via 4,000km HVDC sub-sea cables from southern Morocco to Britain.
The project will create thousands of jobs, including skilled positions, and promote Morocco’s renewable energy industry. It will also foster an integrated renewable energy ecosystem, covering equipment production, transformation, transport, storage, and reconversion, serving as a catalyst for economic growth.
AFC President and CEO, Samaila Zubairu, highlighted Africa’s role in the global energy transition, stating that the project showcases Africa’s ability to support Europe’s sustainable energy shift while addressing climate challenges. Xlinks’ CEO, James Humfrey, expressed excitement over AFC’s involvement, emphasizing their expertise in African infrastructure.
AFC joins other key investors, including TAQA, TotalEnergies, and Octopus Energy, in supporting Xlinks’ groundbreaking project.
Commenti