TotalEnergies Acquires Minority Stake in Xlinks Morocco-UK Power Project
29 Novembro 2023 - 4:24AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has invested £20
million to acquire a minority stake in Xlinks First Limited, a
company founded in 2019 in the United Kingdom, joining fellow
investors Octopus Energy and Abu Dhabi National Energy Company
(TAQA).
Xlinks plans to develop a giant renewable project in Morocco
(combining solar and wind) to supply green electricity to the
United Kingdom through the installation of high-voltage direct
current (HDVC) subsea cables, coupled with a large battery energy
storage. Upon completion, the project is expected to deliver enough
renewable, reliable and affordable electricity to power over 7
million British homes.
Simon Morrish, CEO of Xlinks, said: “We are excited to
welcome Europe’s largest energy company to be a part of our
ambitious vision to foster long distance power exchanges through
this iconic partnership with the UK and Morocco. TotalEnergies’
investment goes far beyond capital, providing a rare combination of
expertise in areas that meet the unique challenges we face. This
marks a highly successful end to 2023 and will give us an even
greater impetus to achieve our goals as we enter 2024.”
Vincent Stoquart, SVP Renewables at TotalEnergies, said:
“We are delighted to join the Xlinks project and its other
investors to support the development of such a pioneering and
ambitious endeavor. This innovative project will benefit from our
track record in developing large and complex integrated energy
projects.”
***
TotalEnergies and electricity As part of its ambition to
get to net zero by 2050, TotalEnergies is building a world class
cost-competitive portfolio combining renewables (solar, onshore and
offshore wind) and flexible assets (CCGT, storage) to deliver clean
firm power to its customers. In 2022, TotalEnergies generated more
than 33 TWh of electricity, and had a gross renewable electricity
generation installed capacity of 17 GW. TotalEnergies will continue
to expand this business to grow its power generation to more than
100 TWh by 2030, with the objective of being among the world's top
5 producers of electricity from wind and solar energy.
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to energy that is
ever more affordable, more sustainable, more reliable and
accessible to as many people as possible. Active in nearly 130
countries, TotalEnergies puts sustainable development in all its
dimensions at the heart of its projects and operations to
contribute to the well-being of people.
@TotalEnergies - TotalEnergies - TotalEnergies
- TotalEnergies
About Xlinks Xlinks will harness the power of nature to
generate a near-constant, low-cost energy supply and connect it to
consumers in real-time. The Xlinks Morocco-UK Power Project is a
“first of a kind” project that will generate 11.5 GW of zero-carbon
electricity from the sun and wind to deliver 3.6GW of reliable
energy for an average of 19+ hours a day. The new electricity
generation and battery storage facilities, located in renewable
energy-rich Morocco, will be connected exclusively to Great Britain
via 3,800km HVDC sub-sea cables. The project will provide low-cost,
clean power to over 7 million British homes from the end of the
decade. Once complete, the project will be capable of supplying 8%
of Great Britain’s electricity needs. Alongside the output from
solar panels and wind turbines, an onsite 22.5GWh/5GW battery
facility provides sufficient storage to reliably deliver a
dedicated, near-constant source of flexible and predictable clean
energy for the National Grid, designed to complement the renewable
energy already generated across the UK. The project is backed by
investors including Octopus Energy and Abu Dhabi National Energy
Company (TAQA).
For more information visit www.xlinks.co X - @xlinks_uk LinkedIn
- https://www.linkedin.com/company/xlinks
Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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TotalEnergies Contacts Media Relations: +33 (0)1 47 44 46 99 l
presse@totalenergies.com l @TotalEnergiesPR Investor Relations: +33
(0)1 47 44 46 46 l ir@totalenergies.com
Nicholas Lamptey Yellow Jersey PR on behalf of Xlinks
xlinks@yellowjerseypr.com +44 7598 836132
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