(Reuters) – Totalenergies announced on Wednesday that it had taken a minority stake in the British group Xlinks First Limited, for a total amount of 20 million pounds (23.11 million euros).
With this investment, the French group will take part in the development of a project aimed at supplying the United Kingdom with electricity produced in Morocco and from renewable energies.
“Beyond the capital contribution, TotalEnergies’ investment will provide us with valuable technical expertise relevant to the unique challenges we face,” said Simon Morrish, Managing Director of Xlinks.
Once completed, the Xlinks project could provide enough electricity to power more than 7 million UK homes.
(Written by Augustin Turpin)
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