TotalEnergies invests GBP20 million in renewable project to power 7 million British homes
- TotalEnergies acquires minority stake in Xlinks Morocco-UK Power Project
- Investment of GBP20 million
- Xlinks plans to develop renewable project in Morocco to supply green electricity to the UK
- Project expected to power over 7 million British homes
- TotalEnergies joins Octopus Energy and Abu Dhabi National Energy Company as investors
- TotalEnergies brings expertise in developing large and complex integrated energy projects
- TotalEnergies aims to be among the world’s top 5 producers of electricity from wind and solar energy
- Xlinks Morocco-UK Power Project to generate 11.5 GW of zero-carbon electricity
- Project to deliver 3.6 GW of reliable energy for an average of 19+ hours a day
- Project backed by investors including Octopus Energy and Abu Dhabi National Energy Company
TotalEnergies has acquired a minority stake in Xlinks First Limited, joining fellow investors Octopus Energy and Abu Dhabi National Energy Company. Xlinks plans to develop a renewable project in Morocco to supply green electricity to the United Kingdom. The project, expected to power over 7 million British homes, will combine solar and wind energy and utilize high-voltage direct current (HDVC) subsea cables and battery energy storage. TotalEnergies’ investment brings expertise in developing large and complex integrated energy projects. The company aims to be among the world’s top 5 producers of electricity from wind and solar energy. The Xlinks Morocco-UK Power Project will generate 11.5 GW of zero-carbon electricity and deliver 3.6 GW of reliable energy for an average of 19+ hours a day. The project is backed by investors including Octopus Energy and Abu Dhabi National Energy Company.
Factuality Level: 8
Factuality Justification: The article provides factual information about TotalEnergies’ investment in Xlinks and the plans for the renewable project in Morocco. It includes direct quotes from the CEO of Xlinks and the SVP Renewables at TotalEnergies. The article also provides background information about TotalEnergies’ commitment to renewable energy and its goals for power generation. Overall, the article presents information in a straightforward manner without any obvious bias or misleading information.
Noise Level: 3
Noise Justification: The article provides relevant information about TotalEnergies’ investment in Xlinks and the plans for a renewable project in Morocco. However, the article also includes excessive promotional language and advertisements for TotalEnergies, which detracts from the overall quality and objectivity of the content.
Financial Relevance: Yes
Financial Markets Impacted: TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE)
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to TotalEnergies’ investment in Xlinks First Limited, a renewable energy project in Morocco. There is no mention of an extreme event or its impact.
Public Companies: TotalEnergies (TTE)
Private Companies: Xlinks First Limited,Octopus Energy,Abu Dhabi National Energy Company (TAQA)
Key People: Simon Morrish (CEO of Xlinks), Vincent Stoquart (SVP Renewables at TotalEnergies)
Reported publicly:
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