Bloomberg | Morocco – UK Power Project seeks political champions

Bloomberg has reported on Xlinks’ latest plea to the UK government.

The article reads:

The company planning the world’s longest subsea power cable between the UK and Morocco says the project needs political support to become a reality.

Under the proposal, the Xlinks First Ltd. project would spur as much as £24 billion ($29.9 billion) of investment, with about £5 billion of that in the UK. The plea to unlock that spending comes as Prime Minister Keir Starmer and Chancellor Rachel Reeves try to revive the British economy and deliver growth.

Drawing on plentiful supplies of wind and sunshine, the link would provide the UK with a reliable source of green power that would compliment the country’s growing fleet of turbines in the North Sea, said Dave Lewis, Xlinks’s chairman and the former chief executive officer of the UK’s biggest grocer Tesco Plc. The company is aiming for a final investment decision this year, financial close in 2026 and to start building before the end of next year.

“It offers enough stable, reliable and dedicated supply to power 7 million homes, or 8% of current electricity needs,” Lewis said in an interview. “It brings billions in inward investment. It helps reduce wholesale energy prices while cutting emissions. It also answers the Dunkelflaute challenge. All without the need for government investment. My view is: why wouldn’t you?”

Read the full story by clicking here, which will take you to the Bloomberg news website.