China-based company Ningbo Orient Wires & Cables intends to invest in the international electricity interconnection project that will link Morocco and Britain, known as Xlinks.
According to Reuters, the Chinese company plans to acquire a 2.4% stake in Xlinks for approximately USD 6,860,000 (five million pounds sterling), along with an additional 8.5% stake valued at $12.71 million (ten million pounds sterling).
Ningbo Orient Wires & Cables, a key player in China’s private sector, specializes in providing solutions for submarine cables, including research, development, installation, maintenance, and repair.
Xlinks aims to transmit solar and wind energy from Morocco to Britain through a network of high-voltage direct current (HVDC) subsea cables spanning 3,800 kilometers, to supply renewable energy to seven million British households.