In a remarkable move, TotalEnergies has poured £20 million into securing a minority share of Xlinks First Limited, a visionary enterprise founded in 2019 in the United Kingdom. This bold step sees TotalEnergies joining forces with fellow investors Octopus Energy and the formidable Abu Dhabi National Energy Company (TAQA).
The grand vision behind Xlinks is nothing short of a breathtaking—and awe-inspiring renewable endeavour nestled in Morocco, marrying the forces of solar and wind energy. Their mission? To supply the United Kingdom with a generous dose of green electricity, achieved through deploying high-voltage direct current (HDVC) subsea cables coupled with an extensive battery energy storage system. Upon reaching fruition, this colossal project promises to usher in a new era, supplying clean, reliable, and cost-effective electricity to power over 7 million British households.
Simon Morrish, CEO of Xlinks, said: "We are excited to welcome Europe's largest energy company to be a part of our ambitious vision to foster long-distance power exchanges through this iconic partnership with the UK and Morocco. TotalEnergies' investment goes far beyond capital, providing a rare combination of expertise in areas that meet our unique challenges. This marks a highly successful end to 2023 and will give us an even greater impetus to achieve our goals as we enter 2024."
Vincent Stoquart, SVP of Renewables at TotalEnergies, said: "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."
In its unwavering commitment to achieving net-zero emissions by 2050, TotalEnergies is constructing a world-class, cost-competitive portfolio that seamlessly combines renewables (solar, onshore and offshore wind) with versatile assets (CCGT, storage) to deliver unwavering clean energy to its customers. The year 2022 witnessed TotalEnergies generating an impressive 33 TWh of electricity, with a substantial gross renewable electricity generation capacity of 17 GW. Their aspirations remain sky-high as they expand this venture, aiming to ramp up power generation to a whopping 100 TWh by 2030. Their vision? To rank among the world's top 5 wind and solar energy-generated electricity producers.
As the world braces for a cleaner energy future, TotalEnergies stands at the forefront, a beacon of innovation and sustainability, weaving a tapestry of energy solutions for a brighter tomorrow.
About TotalEnergies:
TotalEnergies, a global energy powerhouse, is at the helm of a multi-faceted energy landscape. With operations spanning oil and biofuels, natural gas, green gases, renewables, and electricity, TotalEnergies' workforce of over 100,000 is devoted to making energy more accessible, sustainable, reliable, and cost-effective for people across the globe. Present in nearly 130 countries, TotalEnergies places sustainable development at the heart of its projects, endeavouring to enhance the well-being of individuals.
About Xlinks:
Xlinks embarks on a journey to harness the inexhaustible power of nature, delivering a continuous, economical energy supply to consumers in real time.
The Xlinks Morocco-UK Power Project is a pioneering endeavour, generating 11.5 GW of zero-carbon electricity from the sun and wind. This colossal project ensures the delivery of 3.6 GW of dependable energy, available for an astonishing average of over 19 hours daily. Nestled in renewable energy-rich Morocco, this electricity generation and battery storage complex connects exclusively to Great Britain via an astounding 3,800 km of HVDC sub-sea cables. The endgame? To supply low-cost, clean power to over 7 million British households by the end of this decade, representing a formidable 8% of Great Britain's electricity needs.
In tandem with the sun and wind's generous contributions, an on-site 22.5 GWh/5 GW battery facility stands ready, providing ample storage to ensure the National Grid enjoys a constant, flexible, and predictable stream of clean energy. Designed to complement the existing renewable energy landscape in the UK, this project represents a beacon of innovation and sustainability.
Supported by a consortium of investors, including the dynamic Octopus Energy and the illustrious Abu Dhabi National Energy Company (TAQA), Xlinks forges ahead into a cleaner and brighter energy future.