(CercleFinance.com) – TotalEnergies says it is investing £20 million to acquire a minority stake in Xlinks First Limited, a company founded in 2019 in the United Kingdom, and thus join investors Octopus Energy and Abu Dhabi National Energy Company.
The ambition of the Xlinks project is to develop a giant renewable project (combining solar and wind) in Morocco, coupled with large storage batteries, to provide green electricity to the United Kingdom using submarine cables.
‘Once completed, the project could provide enough reliable and affordable renewable electricity to power more than seven million British homes,’ specifies the French energy group.
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