Taqa, based in Abu Dhabi, invested Dh115m in the Xlinks First project: a high-voltage submarine cable between the UK and Morocco.
Abu Dhabi-based energy company Taqa has invested Dh115m in the Xlinks First project, which aims to connect the United Kingdom and Morocco with a high-voltage subsea cable. This investment marks Taqa’s foray into the renewable energy sector and showcases the company’s commitment to green energy.
The Xlinks First project is a 3.6 GW subsea interconnection that will run approximately 3,800km from the UK to Africa. The cable will have a capacity of up to 3.6 GW, and will be able to transmit enough electricity to power over six million UK homes. The project is expected to create thousands of jobs and is expected to have a positive impact on the economies of both countries.
The cable will be laid along the seabed and will comprise of two parallel cables, each capable of transmitting 1.8 GW of power. The cable will also be equipped with advanced technology that will allow it to withstand harsh weather conditions and prevent damage from marine life. This makes it a reliable and sustainable source of energy that can withstand even the most extreme conditions.
The Xlinks First project is expected to play a significant role in achieving the UK’s net-zero target by 2050. The UK government has set a target of reducing its carbon emissions to zero by 2050. The project will help the UK achieve this target by providing a reliable and sustainable source of energy that will reduce the country’s reliance on fossil fuels.
The project is also expected to have a positive impact on the Moroccan economy. The subsea cable will connect to Morocco’s electrical grid, providing the country with a reliable source of renewable energy. This will help the country reduce its reliance on fossil fuels and boost its economy by creating new jobs and attracting foreign investment.
Taqa’s investment in the project is part of the company’s commitment to green energy. Taqa is one of the largest energy companies in the UAE and has operations in over 11 countries. The company has set a target of reducing its carbon emissions by 50% by 2030 and is investing in renewable energy projects to achieve this target.
“We are excited to be part of the Xlinks First project, which will play a significant role in achieving the UK’s net-zero target and provide a reliable source of renewable energy to Morocco,” said Saeed Al Dhaheri, CEO of Taqa. “This investment is in line with our commitment to green energy and our goal of reducing our carbon emissions by 50% by 2030.”
The Xlinks First project is being developed by Xlinks, a UK-based company that specializes in renewable energy projects. The company has secured all the necessary permits and approvals for the project and is currently in the process of finalizing the design and construction of the cable.
“We are delighted to have Taqa onboard as an investor in the Xlinks First project,” said Simon Morrish, CEO of Xlinks. “Their investment is a testament to the potential of the project and its importance in providing a reliable and sustainable source of energy to the UK and Morocco.”
The Xlinks First project is just one of several renewable energy projects that Taqa is investing in. The company is also developing a 2 GW solar project in Al Dhafra, Abu Dhabi, which will be one of the largest solar projects in the world when it is completed. Taqa is also investing in wind energy projects in India and the United States.
The company’s investment in renewable energy is part of a growing trend among energy companies to shift towards sustainable sources of energy. As the world continues to grapple with the effects of climate change, the demand for renewable energy is only going to increase.
