TotalEnergies participates in Xlinks
TotalEnergies acquires a £20 million stake in Xlinks (November 2023)
At the end of November 2023, the French group TotalEnergies announced that it had taken a minority stake in the British group Xlinks First Limited for a total of 20 million pounds (around 23 million euros). This investment will enable the French group to participate in the development of a project to supply the UK with electricity generated in Morocco from renewable energy sources. Xlinks UK is an energy infrastructure project between Morocco and the UK. The electricity generated from renewable energy sources will be transported mainly via high-voltage direct current submarine transmission cables with a projected capacity of 3.6 GW. The combination of wind and solar power with battery storage enables a virtually continuous supply of base load.