Statement on Xlinks

XLCC has a critical role to play in meeting the UK Government’s ambitions, set out in the Industrial Strategy published this week, to develop a UK based supply chain for energy infrastructure, particularly HVDC.

The UK government’s decision not to move forward with a Contract for Difference (CfD) for Xlinks’ Morocco-UK Power Project does not affect XLCC. Although the two companies share some investors and non-executive directors, they are entirely separate and operate independently.

The global HVDC supply chain is under significant strain, with a current wait time of 5–7 years for new cable and demand projected to outpace supply by 2030. UK plans to increase offshore wind capacity from 15GW today to 45GW by 2040 will require an estimated 28,000km of HVDC cable between 2030 and 2040. XLCC is in a strong position to help meet this growing demand.

In the months ahead, XLCC’s focus will be securing the investment needed to build one of the world’s largest HVDC subsea cable factories at our site in Ayrshire. This project will create around 1,200 new jobs and play a critical role in supporting the UK’s clean energy transition.