TotalEnergies invests $25m in Xlinks

TotalEnergies invests $25m in Xlinks

TotalEnergies announced on Wednesday that it has invested £20 million ($25.4 million) to acquire a minority stake in Xlinks, the company overseeing the £22 billion Morocco-UK renewables project.  The French oil and gas major joins fellow investors Octopus Energy and Abu Dhabi National Energy Company (Taqa), the UAE’s largest power producer, which gave a substantial […]

Xlinks running Morocco-UK project

Octopus and Taqa are also investors

Overall budget is £22bn

TotalEnergies announced on Wednesday that it has invested £20 million ($25.4 million) to acquire a minority stake in Xlinks, the company overseeing the £22 billion Morocco-UK renewables project. 

The French oil and gas major joins fellow investors Octopus Energy and Abu Dhabi National Energy Company (Taqa), the UAE’s largest power producer, which gave a substantial vote of confidence to the Xlinks project in April with the announcement of AED113 million ($31 million) in funding. 

“TotalEnergies’ investment goes far beyond capital, providing a rare combination of expertise in areas that meet the unique challenges we face,” said Xlinks’ CEO Simon Morrish.  

“This marks a highly successful end to 2023 and will give us an even greater impetus to achieve our goals as we enter 2024.”?

Budget for Xlinks UK-Morocco energy project rises

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