Xlinks

Michael Liebreich was right. 10 years ago, the founder of BloombergNEF and thought leader on clean energy, predicted that "the electricity system of the future will have cheap renewables at its heart". Recently published research from BloombergNEF highlights that more than 40% of the world’s electricity came from zero-carbon sources for the first time in 2023; 14% from wind and solar. Indications are that momentum towards clean power has accelerated, with wind and solar representing nearly 91% of net new power capacity additions in 2023 – up from 83% the year before. The Power Transition Trends 2024 report and the 2H 2024 Renewable Energy Investment Tracker included news on significant investment for the renewable energy sector too, attracting $313 billion (£236bn) in new investments in the first half of 2024, and a slight increase in solar investment, reaching $221 billion (£167bn). ⚡ Renewable energy is now widely considered to be the largest source of new power generation. Meredith Annex, lead author of the Renewable Energy Investment Tracker said of the report “It’s clear that if there are projects ready and able to move forward, the capital will come.” How did hydro and nuclear perform? We've included a link to the BloombergNEF article in the comments. #Solar #Wind #RenewableEnergy

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Imagine a future where clean air, resilient ecosystems, and abundant, renewable energy are the norm—not the exception. At Xlinks, we aim to build a Global Grid for Clean Power, which accelerates the collective journey to Net Zero and helps to meet the growing demand for electricity - from AI and EVs for example - beyond that. By pushing for sustainable energy solutions today, we aren’t just making our lives better, unlocking the environmental and economic benefits of renewables, but we are building a better world for our children and grandchildren. We're proud of the role Xlinks is playing in the global journey to Net Zero and its approach to positively contributing to the social, environmental and economic development of the communities we operate in. #NetZero #GlobalGrid #RenewableEnergy

Xlinks Morocco-UK Power Project CEO, James Humfrey will be speaking at the upcoming World Utilities Congress in Abu Dhabi from 16 - 18 September 2024. Hosted by Xlinks investor TAQA Group, one of the largest listed integrated utility companies in the Middle East and North Africa region, this event will bring together over 280 speakers, including 18+ Ministers. James will be speaking as part of a Global Leadership Panel on "Building the Grid of the Future," an approach shared by our investor TAQA Group, whose portfolio includes a large scale HVDC subsea project in Abu Dhabi. As World Utilities Congress emphasises, the future of global energy must focus on "investments that maximise the value of existing assets while preparing for the complexities of a decentralised grid powered by distributed energy sources." We're proud to have TAQA Group along with a number of significant investors from the energy sector backing the Morocco-UK Power Project, including Octopus Energy, TotalEnergies, GE Vernova and Africa Finance Corporation. Find out more about the event and speakers below. #WorldUtilitiesCongress #GlobalGrid #CleanPower

As the government returns from recess this week, we look forward to them continuing the momentum they have already been building with the Great British Energy Bill and their clear commitment to deliver Net Zero by 2030. It was positive to see Energy Secretary Ed Miliband confirm in Parliament that he has taken interest in the Xlinks Morocco-UK Power Project, and this is something that the Department for Energy Security and Net Zero will want to consider moving forward. We look forward to future discussions on the progress of large-scale power infrastructure projects like the Morocco-UK Power Project. #Energy #NetZero #RenewableEnergy

Investment worth trillions will be needed to achieve Net Zero targets. Paddy Padmanathan, Xlinks Vice Chair and investor, knows what it takes to be a world leading developer, investor and operator of large scale power generation assets. He was the President and CEO of ACWA Power, a company he led from a startup 18 years ago before stepping down in March 2023. Headquartered in Saudi Arabia, the company now has a portfolio of assets of an investment value of USD 50+ billion, producing 33.9 GW of power and 5.2 million m3 /day of desalinated water. He has extensive experience in solar PV and onshore wind in desert environments across North Africa and the Middle East. "The most important learning I bring to Xlinks is that if you really, really put your mind to it, you can achieve miracles. It is about setting very clear targets, not just stretched ambitions, but really transformative ambitions," he said. According to Climate Policy Initiative, climate finance has grown consistently over the last decade, but still falls far below what is needed to meet the goals of the Paris Agreement. More specifically their study estimates that USD 6.2 trillion of climate finance is required annually between now and 2030, and USD 7.3tn by 2050, to deliver Net Zero. "We're never going to achieve the USD 3 trillion kind of level of investments every year by doing USD 100 million, USD 1 billion, USD 2 billion. We are going to have to move towards the 10s, 20s, 40s, 50s. And Xlinks is going to showcase that it is possible, and we can deliver competitive electricity and continue to keep reducing cost." Paddy explained that in order to accelerate the transition to Net Zero, larger scale projects will be needed to attract larger sums of investment. "What we need is these large iconic projects that can then accelerate and crowd in other projects behind it.” Watch the full video below. #Climate #NetZero #EnergyTransition

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Congratulations to Chris Stark on being appointed by Secretary of State, Ed Miliband, to lead Misson Control to deliver clean power by 2030. A well respected Climate and Energy expert as former chief executive of the Climate Change Committee and The Carbon Trust. He will be leading "a top team of energy experts who will break down barriers and accelerate progress on energy projects". His legacy already includes significant achievements such as ensuring that the Net Zero target has been enshrined into law, the halving of carbon emissions, and shifting electricity supply predominantly towards renewables. Xlinks is closely aligned to Mr Stark's vision to achieve Clean Power by 2030 and as he has said to "put the UK at the forefront of the global race to Net Zero – driving down our carbon emissions but also cutting bills for households." 👉 https://lnkd.in/eaGwdmZi #NetZero #CleanEnergy #RenewableEnergy

Congratulations Ellie Aldridge on winning GOLD in the first ever kite surfing event at the 2024 Paris Olympics! You’ve proved what harnessing the power of wind can truly achieve and Xlinks are delighted to have supported you on your Olympic journey. #olympics #elliealdridge #teamGB #globalgrid #cleanenergy #powerofwind

As the Paris 2024 Olympic Games come to a close this weekend, it seems fitting that the city that gave the world the Paris Agreement in 2015 has also sought to host an event where all Olympic venues are powered by 100% renewable energy. Did you know that 100% renewable energy has been sourced from six wind farms and two solar farms in France? During the Games, Paris even set about installing temporary installations to cover a portion of athletes’ consumption, including a floating solar farm on the Seine River. It meant the Games would be using the public electricity network powered mostly by nuclear energy, a zero-emission power source, instead of diesel generators. The Paris Olympic organisers have set ambitious goals for this and the Paralympic Games of having at least 50% fewer carbon emissions than previous events. Before the world's biggest sporting event comes to a close, find out more about the Olympic organisers' sprint to achieving a more sustainable, climate responsible legacy. https://lnkd.in/gmPzJRr3 [Photo credit - Luca Dugaro] #Paris2024 #Olympics #RenewableEnergy