Africa Finance Corporation (AFC) has committed $14.1 million to the Morocco-UK Power Project, an ambitious initiative by Xlinks aimed at delivering affordable, clean energy from Morocco to the United Kingdom. This massive project intends to harness renewable energy sources like wind and solar from the Sahara Desert to generate electricity that can be transmitted via a subsea cable to the UK. The estimated capacity is sufficient to power up to seven million British homes, presenting a significant contribution to Europe’s green energy transition.
The project is more than just a transcontinental energy solution; it promises to create new job opportunities and foster the development of a robust renewable energy ecosystem within Morocco. By investing in this project, AFC is not only endorsing its potential to reduce greenhouse gas emissions but also its potential to stimulate economic growth in Morocco.
Samaila Zubairu, AFC’s President & CEO, emphasized that this initiative underscores Africa’s critical role in supporting global net-zero targets. Zubairu stated, “Africa, with its immense renewable energy potential and vast natural resources, stands at the forefront of global net zero aspirations.” He added that the Morocco-UK Power Project epitomizes how African energy sources can power Europe’s transition to sustainable energy while addressing urgent climate challenges.
Furthermore, Zubairu pointed out that the project would significantly contribute to Morocco’s economic growth through substantial export revenues and stimulate the growth of local clean energy industries. This suggests that the project’s impact extends far beyond its primary goal of supplying renewable energy; it could also transform Morocco into a hub for clean energy technology and expertise.
James Humfrey, CEO of Xlinks First, expressed excitement about the collaboration with AFC, highlighting their joint focus on African infrastructure development. AFC’s investment in the project is a testament to its strategic importance and adds to a growing list of notable backers, including Abu Dhabi National Energy Company (TAQA), TotalEnergies, and Octopus Energy.
By bringing together these major players in the energy sector, the Morocco-UK Power Project could set a precedent for future transcontinental energy collaborations, demonstrating that clean energy infrastructure can transcend borders and play a significant role in tackling global climate challenges.
Cite this article as (APA format):
AR Managing Editor (2024). AFC Invests $14.1 Million in Morocco-UK Power Project to Supply Renewable Energy from Sahara to the UK. Retrieved from https://www.africanresearchers.org/afc-invests-14-1-million-in-morocco-uk-power-project-to-supply-renewable-energy-from-sahara-to-the-uk/
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