Abu Dhabi’s Taqa puts Dh115m into UK-Morocco high-voltage subsea cable project Xlinks First

Abu Dhabi’s Taqa puts Dh115m into UK-Morocco high-voltage subsea cable project Xlinks First

Dubai: The Abu Dhabi energy firm Taqa is committing Dh113 million (25 million pounds) into a renewables project in Morocco that will in the future provide 8 per cent of the UK’s power requirements from 2030 onwards. Taqa’s funding for Xlinks First Ltd. comes along with a Dh22 million (5 million pound) contribution from Octopus Energy Group. The Abu Dhabi company recently came up with a framework that would see it support financially renewables and clean energy ventures. Taqa incidentally is working on a high-voltage subsea cable in the emirate. With this funding, Xlinks will undertake development of the world’s longest high-voltage direct current (HVDC) subsea cables between the UK and Morocco. It will pass through Portugal, Spain and France as part of the Morocco – UK Power Project. Octopus Energy Generation is one of Europe’s largest investors in renewable energy, managing a nearly 6 billion pound portfolio of such assets worldwide. It is one of multiple ‘first-of-a-kind’ long-distance renewable energy generation and cross-border export projects being planned globally. Xlinks will supply the UK with 3.6GW of renewable energy-sourced electricity, making up nearly 8 per cent of the current requirements and 'enough to power 7 million British homes by the