Abu Dhabi National Energy Company "TAQA" and British Octopus Energy Group have invested £30 million (about $37.36 million) in a subsea cable project aimed at connecting Morocco to the United Kingdom, according to a statement from Xlinks, the company overseeing the project, released on Wednesday. Simon Morrish, CEO of Xlinks, noted that TAQA invested £25 million while Octopus contributed £5 million in the development funding round.
The cable is expected to supply the UK with up to 3.6 gigawatts of renewable electricity, which is nearly eight percent of its current demand, enough to power seven million British homes by the end of the decade. Morrish stated that electricity generation will occur in the "Guelmim-Oued Noun" region of Morocco, through solar and wind farms, highlighting that the vast potential of the energy project between Morocco and the UK will help the UK accelerate its transition to clean electricity sources, enhance energy security, and reduce consumption bills.
Additionally, the project is expected to create around 10,000 job opportunities in Morocco during the construction phase. The project has received government support from both the UK and Morocco.
