Octopus Energy has entered into a new partnership with Xlinks, which is supervising the project of the longest submarine cable in the world expected to Link the UK and Morocco.
The cable will contribute to importing electric power from solar and wind farms from the Moroccan desert towards the United Kingdom.
Octopus Energy revealed its cooperation with Xlinks to expedite the construction of this massive submarine cable project, extending over 3800 km.
The cable is expected to provide the UK with 3.6 gigawatts of clean energy, over an average of twenty hours per day, which will be enough to operate 7 million heat pumps throughout the year.
The British company is expected to provide energy at a price of 48 UK pounds per megawatt hour, on the basis that the cost of the “submarine cable” project will amount to MAD 22 billion, and its construction will start in 2025, where it should be fully operational by 2029.
The financial partnership is managed by a strategic team consisting of energy and business experts, including Chairman Dave Lewis, CEO Simon Moresh, and Project Director Nigel Williams.
Xlinks entered into official talks with the British government regarding importing electric power from solar and wind farms in Morocco to the United Kingdom.
Subsidiary cable manufacturer XLCC announced the start of work on the first phase of construction in the period from 2025 to 2027.
Morocco has allocated 150,000 hectares in the Guelmim-Oued Noun region for a clean energy production project spearheaded by the British company.
The investment project received the approval of the Regional Committee for Investment in the Guelmim-Oued Noun region, according to a report on public real estate investments attached to the Finance Bill 2022.
“We have acquired an area of about 1,500 square kilometers from the Moroccan government (…) On the ground, we are going to put together a solar farm, a wind farm and batteries that together will produce about 10.5 gigawatts of power,” one of the main project’s planners, Sir Dave Lewis had told Financial Times.
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