TotalEnergies joins huge Morocco-UK renewables export project

French energy major TotalEnergies SE (EPA:TTE) has joined the Xlinks subsea cable project that will export 3.6 GW of renewable power from Morocco to the UK by acquiring a minority stake in the vehicle behind the scheme.

TotalEnergies has spent GBP 20 million (USD 25.4bm/EUR 23.11m) on the purchase, it announced on Wednesday without giving details about its shareholding in Xlinks First Limited. With the transaction, the Paris-based group becomes part of the project consortium that includes Abu Dhabi National Energy Company PJSC (TAQA) and British energy firm Octopus Energy Group.

The Xlinks Morocco-UK Power Project envisages the laying of 3,800 km of cables to create the world’s longest high-voltage direct current (HVDC) subsea cable route. The link will export electricity from 10.5 GWp of wind and solar parks in Morocco's Guelmim Oued Noun region to Devon, South West England, with cables set to pass through Spain, Portugal and France. The renewable energy parks will be integrated with 5 GW/20 GWh of battery storage.

The complex is expected to bring green power to seven million British homes. It is slated for commissioning in 2027.

UK-based Xlinks first disclosed its ambitious plan in 2021. The developer this spring secured GBP 30 million in fresh capital for the giant project from TAQA and Octopus, which joined as a financial and strategic partner in 2022.

(GBP 1.0 = USD 1.270/EUR 1.156)

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