Africa Finance Corporation invests $14.1 million in the development of the Xlink’s electricity project

Xlinks First Ltd. revealed a new investment of $14.1 million from Africa Finance Corporation (AFC), Africa’s leading infrastructure solutions provider, to advance the development of its power cable project linking Morocco UK. This project aims to provide clean, reliable and affordable energy from Morocco to Britain within the next ten years.

AFC’s investment underlines the importance of the project, highlighting Morocco’s leadership in renewable energy and Africa’s capacity to contribute to the global energy transition. Once completed, the project will generate 3.6GW of clean energy through wind and solar, complemented by a battery storage system, covering 8% of current UK electricity demand and capable of powering more of 7 million households. The production and storage facilities will be based in southern Morocco and connected exclusively to the UK via a 4,000 km submarine cable.

This project will create thousands of jobs, particularly in skilled fields, with training programs to strengthen Moroccan expertise in renewable energies and consolidate its position as an energy hub. It will also promote an integrated renewable energy industrial ecosystem, encompassing production, transportation and equipment processing.

Samaila Zubairu, CEO of the AFC, said this project illustrates Africa’s role in the global shift to clean energy and in the fight against climate change, using the energy of the Sahara to support the energy transition from Europe.

LNT with CDP