Global Power & US EV News: Chinese Cable Deal & US Charging Grants
Chinese Cabling Manufacturer Invests, Enters Morocco-UK Power Project Through Acquisition
Market Impact Factor: Medium
Kainat Yousaf | Junior Analyst - HVDC
Xlinks First Limited recently secured ￡5 million in gross proceeds through a share subscription agreement, with Orient Wires & Cables, a Chinese company. Existing investors in the Morocco-UK Power Project include Al Maqam Energy Holding, Octopus Energy , and TotalEnergies Renewable Solutions UK. This project, with a planned capacity of 10.5 GW, will supply renewable energy to Great Britain's grid via dedicated 3,800-kilometer subsea cables, expected to power over seven million homes by 2030. Continue Reading
Revitalizing America's EV Landscape: CFI Grant on Charging Infrastructure
Market Impact Factor: Medium
Zainab Ayub Ansari | Junior Analyst - EVCI
The announcement of a substantial $623 million award package by the Biden administration for the Charging and Fueling Infrastructure (CFI) Discretionary Grant Program marks a significant stride in advancing the electric vehicle (EV) charging network in the United States. As part of the Infrastructure Investment and Jobs Act, the CFI program allocates $2.5 billion over five years to bolster charging infrastructure, focusing on two key tracks: community charging and corridor charging. Continue Reading
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