The United Kingdom might miss out on a £25 billion green energy initiative with Morocco due to administrative delays, potentially leading the project to be taken up by another nation, according to Sir Dave Lewis, chairman of X-Links, during an interview.
The Telegraph.
The initiative aimed at delivering affordable solar and wind energy from Morocco to numerous households in the UK is attracting significant attention from global financiers. However, according to Sir Lewis, such investors have their limits when it comes to waiting.
“We have folks queuing up to supply the £8 billion required for funding,” Sir Lewis stated, adding that during recent testing, the leftover £17 billion in financing saw an excess of interest.
However, increasing dissatisfaction with the delays in obtaining the required governmental approvals might compel X-Links to relocate the project to another location.
The objective is to produce solar and wind power in Morocco’s sun-drenched Tantan area and swiftly transmit it via 4000 kilometers of submarine cables to the United Kingdom.
The initiative has the potential to power approximately 9 million households and cut down carbon emissions by 10%. Additionally, it would help decrease energy costs for consumers.
However, X-Links is considering alternative options. The firm aims to broaden the initiative to include Germany and an undisclosed second nation, aiming for expedited implementation there should progress in the UK remain delayed.
“We have fulfilled all the requirements placed upon us; however, the process is consuming an immense amount of time,” stated Sir Lewis.
Even though it has been acknowledged as a nationally significant project over 18 months ago, X-Links is still awaiting permission from Energy Secretary Ed Miliband for a long-term agreement that ensures a set price for their electricity.
Sir Dave has labeled the UK’s postponement as a “deficiency in policy and involvement” and cautioned that it could harm Britain’s international standing.
Sir Lewis indicates that the initiative is not just beneficial for Morocco but also serves as an essential move for the UK to ensure its energy security.
“The sun illuminates daily and the wind gusts nightly. It’s perfectly situated,” remarked Sir Dave when speaking about Morocco.
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X-Links faces potential loss of their Moroccan project due to ‘red tape delays.’
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