American GE Vernova Joins Xlinks Morocco-UK Power Project

American company GE Gernova has decided to join the Xlinks Morocco-UK power project with a $10.2 million investment injected in this ambitious project expected to produce affordable and clean energy.

Once complete, the Project’s wind and solar generation, combined with flexible battery storage, is expected to supply 3.6 gigawatts (GW) and deliver approximately 8% of Britain’s current electricity needs – or the equivalent electricity of seven million homes.

The new electricity generation and battery storage facilities, located in south Morocco, will be connected exclusively to Britain via 4,000km HVDC sub-sea cables.

GE Vernova is well positioned to help lead the energy transition by harnessing its collective energy portfolio to deliver large scale global energy projects across its Wind, Power and Electrification segments and has vast experience in providing financing solutions to help enable energy projects throughout an infrastructure life cycle. It joins other significant investors from the energy sector, including TAQA, TotalEnergies, Octopus Energy and AFC.

The Project is expected to help address electricity demand in the UK, which is expected to double from ~300 to 600 terawatt-hours by 2050 based on scenarios published by the Climate Change Committee, in part due to the electrification of the nation’s heating, transportation, and industry.

Nomi Ahmad, CEO of GE Vernova’s Financial Services business, said: “By leading the energy transition through our vast energy expertise, we help large scale energy projects ensure deliverability and bankability”.
“We are pleased to be part of the Morocco – UK Power Project, as collaboration across the energy sector is key to ensuring that more affordable, renewable energy is delivered to help meet the UK’s electrification demands and help the nation meet its net zero goals”, added Mr. Noami.

James Humfrey, CEO Xlinks First Ltd, said: “Bringing in an investor of the calibre of GE Vernova represents a further strategic step in the Morocco – UK Power Project’s development, as we progress the project across several fronts. Xlinks is committed to meeting the UK’s need for reliable, affordable, zero-carbon energy while maximising the socio-economic benefits of the Project in Morocco.”