Octopus Energy Group, a UK-based renewable energy company, has announced a financial and strategic partnership with Xlinks, a company that is building an interconnector between Moroccan solar farms and the UK. Xlinks is laying four 3,800 km subsea cables for the Morocco-UK power project, which will connect a renewable energy facility in the Moroccan desert with Devon, UK. The site will be able to provide 3.6 GW of renewable energy to the UK for an average of 20 hours per day, which is enough to run nearly seven million heat pumps every year.
The project is currently in the planning stages, with economic, environmental, and archaeological impact evaluations being conducted. In 2027, it is expected to be operational. When fully operational, Xlinks is expected to deliver power at a price of $58 per MWh, comparable to offshore wind. The Morocco-UK power project will also diversify the UK’s supply lines and boost the country’s energy security.
In March 2022, Octopus Renewables signed an agreement to acquire wind farms in the UK and Europe. The wind farms are based in the UK, Sweden, France, and Finland. Octopus Renewables entered into an agreement with Swedish energy company OX2 to acquire a 31.5 MW onshore wind farm in Sweden. An unidentified seller in Finland has sold the company two onshore wind farms with a total capacity of 71.4 MW.