France-based TotalEnergies has announced that it has purchased a minority share in Xlinks First Limited for £20 million.
Xlinks was first founded back in 2019 in Britain, and is also backed by the Abu Dhabi National Energy Company and Octopus Energy. It plans to install high-voltage direct current (HDVC) cables under the sea, combined with large-scale battery storage, to connect the UK with Morocco. On the Moroccan side, a giant project combining solar and wind will generate the renewable electricity to reliably and affordably supply more than 7 million UK homes. With around 3,000 hours of sunshine each year, Morocco enjoys one of the highest solar insolation rates in the world, making it a very attractive location to generate and export power to the UK via subsea HVDC cables.
TotalEnergies’ senior vice president for renewables, Vincent Stoquart, said about joining the venture:
“We are delighted to join the Xlinks project and its other investors to support the development of such a pioneering and ambitious endeavour. This innovative project will benefit from our track record in developing large and complex integrated energy projects.”
TotalEnergies has set itself the goal of becoming a net-zero emitter of greenhouse gasses by 2050, and currently has the capacity to generate 17 GW of renewable electricity. The company also makes the Total range of lubricants, coolants, and other fluids that we’re proud to supply here at TrAchem. Speak with our helpful team to learn more about products like the Total Nevastane food-grade lubricants and the Total Preslia turbine oil.
