London, 14 November 2022
Xlinks attracts new investor – Germany’s con|energy to invest in the Morocco – UK Power Project to deliver exclusive, affordable energy at scale.
con|energy, a Germany-based investor in the European energy industry, has made a multimillion pound investment in Xlinks’ Morocco-UK Power Project
Xlinks Morocco is a 10 GW renewables project which will diversify and strengthen the UK’s energy supply within this decade
Xlinks will lay the world’s longest HVDC subsea cables to provide 3.6 GW of green power to the UK for an average of 20 hours a day – enough to power about 8% of the country’s electricity needs
Xlinks and con|energy have entered into a financial and strategic partnership to collaborate on Xlinks’ plans to offer an exclusive supply of renewable energy to the UK from Morocco through four 3,800km subsea HVDC cables. con|energy has previously invested in companies such as Wayve and Chargepoint.
The Morocco-UK Power Project will be the world’s largest endeavour of its kind, utilising proven wind and solar technology to provide 3.6 GW of sustainable, reliable and affordable electricity to the UK for an average of 20 hours a day. Operational by the end of the decade, Xlinks will provide electricity for 7 million British homes every day.
Morocco has become an international renewable energy leader over the past 10 years, developing innovative wind and solar projects, with in-country expertise and a framework that fosters renewable energy investment. The Kingdom has its own ambitious renewable energy strategy and the ambition to become a green energy hub. The Xlinks’ Project will bring sizeable economic benefits to both countries involved, creating green energy and engineering jobs in both the UK and Morocco.
The Project is led by seasoned UK energy experts, engineers and entrepreneurs. Its executive chairman is Sir Dave Lewis, former CEO of Tesco and president of global personal care at Unilever. The founder and CEO is Simon Morrish, a serial entrepreneur and CEO of Ground Control Ltd. The project Director is Nigel Williams who oversaw the installation of the world’s longest subsea interconnector, the North Sea Link.
Simon Morrish says: “We look forward to partnering with con|energy, who bring their sustainabilityled, solutions-driven approach to the energy world. We are particularly pleased to welcome their founder and CEO Roman Dudenhausen and his team to the Xlinks family of investors. Their investment in us demonstrates the growing confidence the markets and our industry have in the project and the benefits it will bring.”
Roman Dudenhausen adds: “Simon and I have known each other for a while and have had many discussions about this amazing project. It is bold, innovative, and sustainable, and we think represents a game changer on the way to European energy security from renewables. Needless to say, we are extremely happy to be a financial and strategic partner to Xlinks and its team. Further joint projects are already under discussion.”
With net-zero milestones fast approaching, the Project will provide an affordable, renewable, and secure source of energy for the UK that can be online quicker than any other project of this scale. Alongside the domestic generation outlined in the UK’s national energy security strategy, Xlinks is a key part of the solution to achieving British energy independence.