Theย UK Infrastructure Bank XLCC fundingย package provides approximatelyย $22.3 millionย toย XLCC, a highโvoltage direct current (HVDC) subsea cable manufacturer, to build a new factory inย Hunterston, Scotland. This investment strengthens the UKโs clean energy supply chain and supports future largeโscale interconnector projects.
The agreement includes an option to increase the funding to as much asย three times the initial amount, subject to project requirements. This flexible structure helpsย XLCCย develop a plant capable of producingย thousands of kilometers of HVDC subsea cable each year.
Plans for theย Hunterston facilityย call for aroundย 900 permanent jobs, plus many apprenticeships that will build local expertise in advanced manufacturing and project management. XLCC CEOย Ian Douglasย notes that the project will deliver significant longโterm investment into the U.K. economy, and the company has already raised aboutย $45 millionย toward the factory.
