GE Vernova invests in Xlinks’ Morocco-UK renewables export project

GE Vernova (NYSE:GEV) has joined as a minority investor Xlinks Limited’s subsea cable project that will export 3.6 GW of renewable power from Morocco to the UK.

The energy company, which recently spun out from General Electric Co, has invested USD 10.2 million (EUR 9.51m) into the project developed by Xlinks First Ltd, according to a press released published today.

GE Vernova comes as the latest addition to a group of investors that already includes TotalEnergies, TAQA, Octopus Energy and AFC.

The Xlinks Morocco-UK Power Project, which is described as the world’s longest 4,000-kilometre (2,485mi) high-voltage direct current (HVDC) subsea cable, was first announced in 2021. Coupled with 5 GW/22.5 GWh of energy storage capacity, it is expected to export electricity from 11.5 GW of wind and solar parks in Morocco’s Guelmim Oued Noun region to Devon in South West England.

The announcement of GE Vernova's bet came shortly after Xlinks First said on Thursday that the Africa Finance Corporation (AFC) had invested USD 14.1 million to support the project.

(USD 1 = EUR 0.933)

Choose your newsletter by Renewables Now. Join for free!