UK-Morocco Renewable Energy Link Plan Gets $10.2 Million Boost [BNN Bloomberg (Canada)]
GE Vernova Inc. (GEV)
Company Research
Source: BNN Bloomberg
The investment helped close the latest funding round for Xlinks First, capping $110 million raised to date, according to Chief Executive Officer James Humfrey. It's an incremental step for the company as it advances a project it estimates will cost as much as £24 billion ($30.1 billion) to construct. Xlinks's planned power plant — consisting of wind turbines, solar panels and batteries — in Morocco is expected to bring 3.6 gigawatts of electricity to the UK via the world's longest subsea power cable. With a steadier supply of sunshine and wind in Morocco, the project can guarantee Britain reliable and cheap green power, especially during times when the UK's own output dips. GE Vernova joins a group of investors that includes France's TotalEnergies SE, Abu Dhabi National Energy Co. and the UK's biggest retail energy supplier Octopus Energy. The company is in talks with the government to grant it access to a support mechanism primarily used by offshore wind farms today. The proje
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GEV
Earnings
- 4/26/24 - Miss
GEV
Sec Filings
- 5/20/24 - Form 4
- 5/20/24 - Form 4
- 5/20/24 - Form 4
- GEV's page on the SEC website