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TAQA's $31M Investment To Power UK From Morocco | |
| Sumita Pawar |
The Abu Dhabi National Energy Company, TAQA, has invested $31 million in Xlinks First Ltd., a British start-up that plans to build the world’s longest high-voltage direct current (HVDC) subsea power cable between Morocco and the UK.
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The project aims to supply the UK with 3.6 GW of renewable electricity generated in Morocco’s Guelmim Oued Noun region through a 10.5 GW solar and wind farm, fulfilling almost 8% of the UK’s energy requirements and providing electricity to approximately seven million households by the end of the decade.
Octopus Energy Group has also contributed GPB 5 million towards the renewable energy generation project.
The investment reflects TAQA’s commitment to reducing emissions and offers the chance to bring both infrastructure and renewable power expertise to the table to benefit the UK and Morocco.
The construction of the project is anticipated to create around 10,000 jobs in Morocco and attract significant foreign direct investment in the country.