Xlinks

“Why wouldn’t you?” As our Chair, Sir Dave Lewis, told Richard Fletcher at The Times today, why wouldn’t you want to be involved in a renewable energy and infrastructure project which will lower wholesale energy prices by 9.3% within the first year of operation? "The scheme absolutely ticks every single box: secure energy supply, lower prices and emissions. Not to mention growth, international investment and jobs. It creates an industry," Sir Dave said to The Times. Xlinks presents a solution which will provide 8% of the UK’s electricity (or power to seven million homes), using proven technologies and with no commercial risk to the government.    Our Morocco-UK Power Project will connect the UK and Morocco, building on our historic trade relationship and addressing the critical problem of intermittent renewables supply in the UK. Xlinks is building beyond Net Zero to provide reliable, near constant green energy, while enhancing the UK's energy security through diversity of supply.   Find out why Sir Dave chose to join Xlinks and back the huge energy rewards the project will deliver.    https://lnkd.in/e7jayQ8G   #EnergyTransition #RenewableEnergy #NetZero

How much do you know about Xlinks investor Africa Finance Corporation (AFC)? Created by African sovereign states to actively pursue solutions that will develop and finance infrastructure, natural resources and industrial assets for the "enhanced productivity and economic growth of African states". Samaila Zubairu, AFC President and CEO, recently explained "You can't really transform the economies without infrastructure. So AFC's mandate is to build infrastructure that will enable industrialisation to take place on the continent. Africa is key to global Net Zero." "Africa can essentially facilitate the electrification of the world," he said. Amadou Wadda, AFC Senior Director and Head of Portfolio Management and Optimization, shared the company's excitement investing in a project like the Morocco-UK Power Project. "If we can realise this project, I think it would act as a template to also start developing some of these projects in areas where you have significant amount of renewable energy resource and also transporting it within the African continent to centres where they're needed. The most important lesson to learn from this project is the utilisation of the High Voltage Distance Cable, which has energy losses almost a quarter of the type of cables that are currently being used in Africa." "The Morocco UK project is a very good example of large-scale renewable energy projects across continents, and not only in Africa," added Sameh Shenouda, Executive Director and CIO. We are proud to have the expertise of AFC as a major investor in Xlinks alongside GE Vernova, Abu Dhabi National Energy Company (TAQA Group), TotalEnergies and Octopus Energy. #Africa #NetZero #EnergyTransition

“There is no doubt from an engineering perspective you could connect Morocco to Southern England.” It was great to hear National Grid Group CEO John Pettigrew discussing the Xlinks Morocco-UK Power Project on the Aurora Energy Research Energy Unplugged podcast this week. Xlinks worked closely with National Grid to identify the best connection site for our Morocco-UK Power Project and reached an agreement for two 1.8GW connections in North Devon. Finding the optimal location was crucial in terms of transmission capacity and efficiency, as it will allow us to deliver more renewable energy at a lower cost to Britain’s households. See the clip below, or listen to the full episode here: https://lnkd.in/eQ3sv3mV   #NetZero #CleanPower #NationalGrid

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“It was very encouraging from a business point of view to see a Government put growth at the centre of everything they’re talking about.”   Those are the words of Xlinks Chair, Sir Dave Lewis after he attended yesterday’s International Investment Summit.    Speaking on BBC Radio 4’s Today programme this morning, he said the Government’s narrative on the need for stability and consistency was well received, but that while it was good to hear the words, “deeds are a little bit harder”.    Sir Dave and Xlinks were pleased the Summit featured a strong focus on: 1️⃣  Accelerating growth for a better, more resilient economy while attracting foreign investment at scale. 2️⃣ Decarbonising our energy system to clean power, while rapidly increasing supply to meet the growing demand for electricity. 3️⃣ Ensuring we remain a chosen partner for international trade, retaining a track record of delivery at a pace that rises to the challenge.   What’s more, Xlinks will unlock all three of these themes with its Morocco – UK Power Project, which will generate £17.3bn in inward investment over 25 years, reduce Great British power sector CO2 emissions by 9.9%, and demonstrate the UK’s Net Zero leadership while strengthening its relationship with Morocco.   Listen to Sir Dave’s interview this morning in full - https://lnkd.in/eu3KjWGk [Photo courtesy of The UK Government] #InternationalInvestmentSummit #GreenEconomy #BBC

The UK Government secured over £24 billion in private investment for clean energy projects ahead of today's International Investment Summit, creating thousands of green jobs nationwide.     It's a major boost for clean energy industries alongside other recent announcements that has seen the government overturn the onshore wind ban, secure record renewable auctions, and launch publicly-owned energy company Great British Energy.     As we speak, the inaugural International Investment Summit is bringing together business leaders and investors to boost growth and inward investment across the UK.   UK Prime Minister, Keir Starmer, Business Secretary Jonathan Reynolds MP and Chancellor Rt Hon Rachel Reeves are hosting, and one of the key sponsors of the event is Xlinks investment partner Octopus Energy.     We know first-hand that having a diverse makeup of private investors from the renewable energy sector and across the Middle East, Europe, Africa and the UK brings a wealth of expertise and bankability to accelerate the UK's electrification and decarbonisation goals towards Net Zero.    Xlinks has the backing of significant investors including TAQA Group, TotalEnergies, GE Vernova and Africa Finance Corporation, alongside Octopus Energy.    Our Morocco – UK Power Project alone will bring £17.3 billion of inward investment over 25 years, supporting economic growth and enabling the UK to become an exporter of energy. This is whilst further strengthening the nation’s trade relationship with Morocco, an emerging world-leader in clean power and a gateway to Africa.    Following the Summit, what do you think should be prioritised to shape the future of investment in the UK's green economy? #UKInvestment #InternationalInvestmentSummit #GreenEconomy

Congratulations to the new Clean Power Commissioners on being appointed to the UK Government's Clean Power 2030 Advisory Commission. Under the stewardship of Chris Stark, the commissioners will meet regularly throughout the Autumn to shape the clean power action plan which will be ready for publication by the end of the year. It's fantastic to see the depth of knowledge from industry leaders, public servants and researchers come together to support the Department for Energy Security and Net Zero's mission to make clean power by 2030 a reality. Congratulations on your appointments: Lucy Yu, Nick Winser CBE FREng, Tim Pick MBE, Juliet Davenport, Robert Gross, Craig Bennett, Jo Coleman OBE & Simon Harrison. We look forward to following their progress. #NetZero #CleanPower #RenewableEnergy

Wishing the crew and project team a safe transit to the site for Xlinks' geotechnical campaign! The team will be conducting geophysical and geotechnical, as well as environmental surveys, along the coasts of Morocco, Spain, Portugal and France (the proposed cable corridor) for the Morocco-UK Power Project. Thank you to SEASOILS BV Project Operations Manager, Tom Goodacre for sharing these updates from aboard GEOxyz's vessels. You can follow the route of our proposed 4000km subsea cable corridor. 👇 https://lnkd.in/eqT6Hm7T #Offshore #Subsea #RenewableEnergy

Morocco as the host to this week's World Power-to-X Summit demonstrates the lead role the nation is playing in the clean energy revolution. The event takes place in Marakesh today and tomorrow and brings together 170 global experts, industry leaders, investors and innovators to explore revolutionary solutions in green hydrogen and clean energy. Both Morocco and Xlinks share a vision of addressing climate change through large-scale renewable energy projects that accelerate the transition to Net Zero. The Xlinks Morocco-UK Power Project will be a new electricity generation facility entirely powered by solar and wind energy combined with a battery storage facility. Located in Morocco’s renewable energy rich Province of Tan-Tan, when completed, it will be connected exclusively to Great Britain via 4000km (2485 miles) HVDC sub-sea cables. The country has been a forerunner in the development of large, innovative renewable energy projects worldwide, and has set bold renewable energy targets, aiming for over 52% of its electricity generation from renewable sources by 2030. Many pioneering discussions have emerged from previous events hosted in the this North African region, including the COP22 Climate Conference in 2016. We look forward to the insightful, innovative approaches and expertise shaping the future of clean energy infrastructure. #WorldPTXSummit #EnergyTransition #Morocco

Have you heard? 👇 Thank you Carbon Brief for taking the time to dissect this historic news. The UK's energy system is undergoing an unprecedented transition to achieve Net Zero and as of today, the UK is coal-free! The significance of this announcement brings an end to a 142-year era of burning coal to generate electricity. So what's next for the UK's energy system? According to Carbon Brief, in 2023, renewables set a new record by providing 44% of the country’s electricity supplies, up from 31% in 2018 and just 7% in 2010. Further analysis showed "output is set to increase from around 135TWh in 2023 to more than 150TWh this year". As other countries look to retire their coal fleets, could the UK be used as a successful climate case study? Find out more in Simon Evans' post below 🔋🌎⚡️ #Coal #RenewableEnergy #CleanPower