Friday 18 November 2022

con|energy invests in the Morocco-UK Power Project to deliver exclusive, affordable energy at scale to Europe

Xlinks and con|energy have entered into a financial and strategic partnership to collaborate on Xlinks’ plans to offer an exclusive supply of renewable energy to the UK from Morocco through four 3,800km subsea HVDC cables. con|energy is already investing in numerous sustainable infrastructure and energy supply projects, including companies such as global charging infrastructure leader Chargepoint and many other startups, significantly driving the energy, heat and mobility transition.

Xlinks Morocco is a 10-gigawatt renewable energy project and will be the largest endeavour of its kind, utilising proven wind and solar technology to provide 3.6 GW of sustainable, reliable and affordable electricity to the UK for an average of 20 hours a day. Operational by the end of the decade, Xlinks will provide electricity for 7 million UK homes every day - enough to meet about 8% of the country's electricity needs. To achieve this, the longest submarine cables using high-voltage direct-current (HVDC) transmission technology in the world will be laid.

Morocco has become an international renewable energy leader over the past 10 years, developing innovative wind and solar projects, with in-country expertise and a framework that fosters renewable energy investment. The Kingdom has its own ambitious renewable energy strategy and the ambition to become a green energy hub. The Xlinks’ Project will bring sizeable economic benefits to both countries involved, creating green energy and engineering jobs in both the UK and Morocco.

The Project is led by seasoned UK energy experts, engineers and entrepreneurs. Its executive chairman is Sir Dave Lewis, former CEO of Tesco and president of global personal care at Unilever. The founder and CEO is Simon Morrish, a serial entrepreneur and CEO of Ground Control Ltd. The project Director is Nigel Williams who oversaw the installation of the world’s longest subsea interconnector, the North Sea Link.

Simon Morrish says: “We look forward to partnering with con|energy, who bring their sustainability-led, solutions-driven approach to the energy world. We are particularly pleased to welcome their founder and CEO Roman Dudenhausen and his team to the Xlinks family of investors. Their investment in us demonstrates the growing confidence the markets and our industry have in the project and the benefits it will bring.”

Roman Dudenhausen adds: “Simon and I have had many discussions about this amazing project. It is bold, innovative, and sustainable, and we think represents a game changer on the way to European energy security from renewables. Needless to say, we are extremely happy to be a financial and strategic partner to Xlinks and its team. Further joint projects are already under discussion.”

With net-zero milestones fast approaching, the Project will provide an affordable, renewable, and secure source of energy for the UK that can be online quicker than any other project of this scale. Alongside the domestic generation outlined in the UK’s national energy security strategy, Xlinks is a key part of the solution to achieving British energy independence.