A British clean energy start-up which hopes to build the world’s longest undersea cable capable of delivering nearly a tenth of the UK’s electricity is to kick off talks with prospective investors in the £16bn project.Sky News has learnt that Xlinks, which has been founded with the ambition of establishing a cheap and reliable new energy source for Britain, is close to hiring bankers to advise on the revolutionary plan.
The company wants to construct a 3800km cable between north Africa and the UK that could transmit enough electricity to power more than seven million British homes.Xlinks has recruited a heavyweight board to help deliver its vision, with Sir Dave Lewis, the former Tesco chief executive, installed last year as the company’s chairman.Sir Ian Davis, the former Rolls Royce Holdings chairman, has also been recruited as a non-executive director. …
Clean energy start-up Xlinks eyes investor backing for revolutionary £16bn project | Business News
