Two startup companies have now agreed for partnering on an ambitious plan for linking the renewable energy resources of Morocco along with the UK power grid by using an ultra-long subse power cable.
Octopus Energy, a retail energy supplier of United Kingdom has now announced it is going to be backing the Xlinks in the plans of the company for constructing a giant 2,000 nautical mile undersea cable, which has been intended for exporting the solar and wind energy from the country of Morocco to the United Kingdom under the sea.
Xlinks has now announced that, it is focusing on the investor backing to raise 19 billion dollars for the revolutionary project and it has already secured around 48 million dollars in the development funding which is now being used for conducting the economic, archaeological and economic assessments.
Octopus Energy said, by partnering with Xlinks, Octopus Energy is exploring the potential offtaking rights and it is also hoping to reach an agreement that is going to see the use of the company’s proprietary Krakenflex platform during the project. Krakenflex has been an energy management tech solution that is allowing the company’s commercial customers for digitally controlling the distributed energy resources.
During the previous decade, Morocco has now become a leader in the renewable energy and the access of Morocco to the wide solar and wind resources in the Sahara has been guaranteeing the sustainable production throughout the year.
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