GE Vernova invests in Xlinks’ Morocco – UK Power Project
05.05.2024
Xlinks First Limited, the investment company established by Xlinks Limited to deliver the power generation project between Morocco and the UK, secured USD 10.2 million at the end of April.
GE Vernova, a global energy company, has invested in the project as a minority shareholder.
"As part of the investor family, we are delighted that Xlinks is taking the next big step with GE Vernova's investment. The investment of $10.2 million will make a significant contribution to accelerating the expansion and realisation of the project," says Dr. Roman Dudenhausen, CEO con|energy ag.
Once complete, the project’s wind and solar generation, combined with flexible battery storage, is expected to supply 3.6 gigawatts of affordable, reliable, and clean power and deliver approximately 8% of Britain’s current electricity needs – or the equivalent electricity of seven million homes. The new electricity generation and battery storage facilities, located in south Morocco, will be connected exclusively to Britain via 4,000km HVDC sub-sea cables.
