Africa Finance Corp. joins Morocco-UK subsea power cable project

Africa Finance Corp. (AFC) will join forces with companies working on a massive solar and wind energy project in Morocco that aims to fuel the UK through a subsea power cable network.

This announcement was made by AFC's Chief Executive Officer, Samaila Zubairu, during an interview at the International Monetary Fund's Spring Meetings in Washington, Bloomberg wrote earlier this week.

«Africa is no longer a continent solely reliant on aid or charity», Zubairu emphasized. «If we're to achieve net zero emissions, we need to focus on investments».

The ambitious project involves building four 3,800-kilometer high-voltage direct current (HVDC) cables. These cables will run from the UK's south coast, passing undersea through France, Spain, and Portugal, before connecting to the planned solar and wind energy project in Morocco. Upon completion, the subsea power cable is expected to provide 8% of the UK's electricity needs.

Xlinks Ltd. leads the project to export power from Morocco to the UK. The group also includes major players like TotalEnergies SE, General Electric, and Abu Dhabi's Taqa.