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    Octopus Energy To Finance Xlinks' Subsea Power Cable Project To Deliver Energy From Morocco to UK


    May 13, 2022 - Fitch Solutions Sector Intelligence

     

      THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.

      Octopus Energy To Finance Xlinks' Subsea Power Cable Project To Deliver Energy From Morocco to UK

      • 13 May 2022
      • Morocco
      • Infrastructure

      News: Octopus Energy has entered into a financial and strategic partnership with Xlinks for construction of Xlinks' 3.6GW subsea power cable to transfer renewable energy from Morocco to the UK. The project, which is under development phase and is undergoing economic, environmental and archaeological impact assessments, includes laying of four 3800km subsea cables by Xlinks to connect a renewable energy farm in Morocco with Devon in England. The project would feature a hybrid plant powered by solar and wind energy combined with a 5GW battery storage facility. Octopus Energy is expected to purchase power from the project. The project is expected to be operational by 2027 (Renews Biz).

      This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). FSG is solely responsible for the content of this report, without any input from Fitch Ratings.

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