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You're talking about Xlinks? They are nowhere near doing it. They have been talking about it since 2018 and trying to get investors to give them money but des
by derriz 3y ago
You're talking about Xlinks? They are nowhere near doing it. They have been talking about it since 2018 and trying to get investors to give them money but despite favourable press and interest from politicians, a heavyweight board, nobody who has looked at their business plan has stepped up to the plate to back the project. Desertec is the other one which has raised nothing despite touting a similar idea since 2008.
Xlinks is going nowhere - in fact the founder, Simon Morrish, seems to be mostly spending his time on other projects these days.
Even their website claimed last year that the £16B project could be profitable if a CFD at £48/MWh (CDF is a type of contract electricity suppliers bid for in UK auctions to win 15 year contracts to supply electricity). Unfortunately local solar pv, on-shore and off-shore wind auction prices in the last auction round were all lower than this.
Regarding local subsidies and supports for rooftop solar, of-course it can make sense for an individual. My point is that on aggregate, it does not make sense - if the government is going to spend $X to encourage the production of solar PV, then supporting rooftop solar provides a poor return on the subsidy. And the difference is more than half the price - typically the multiple is 3 or 4 times cheaper.