The Final Investment Decision (FID) on the £24 billion ($29.9 billion) Xlinks Morocco-UKs subsea power interconnection project is expected in 2025, Bloomberg reported.

The financial close will take place in 2026, with construction starting before the end of next year, Xlinks’ Chairman Dave Lewis told the news agency. 

The project is expected to come online in 2031, shortly after the UK’s 2030 clean power grid deadline.  

It will connect Morocco’s Guelmim Oued Noun region to the UK via 3,800-kilometre HVDC subsea cables, and includes 11.5 gigawatts (GW) of solar and wind farm capacity, supported by batteries to store excess power. 

GE Vernova invested $10.2 million in Xlinks last year, joining other investors such as the UAE’s Abu Dhabi National Energy Co. (TAQA), France’s TotalEnergies SE and the UK’s Octopus Energy.

The project's financial advisors are J.P. Morgan and Societe Generale, according to its website.

Read moreSupergrids in MENA: Taking renewable energy to the world

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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