On Thursday, the British government decided to shelve the ambitious Morocco-UK Power Project, a 3,800 km submarine cable that aimed to bring solar and wind power from the Sahara to supply up to seven million homes. The official reason: “better economic benefits” and the priority of “building domestic capacity.” The decision illustrates an old energy dilemma that is returning with renewed force: should we take advantage of the cheapest energy in history from third countries with better conditions for its generation, or should we develop national self-sufficiency?
The UK’s move brings to mind the Australian Sun Cable megaproject, unveiled in 2019, which aims to meet a fifth of Singapore’s demand with a 10 GW solar farm and a 4,300 km HVDC cable. Its promoters sum it up as follows: “it’s not a question of if, but when.”
The sun is shining in Excel. The International Energy Agency confirmed in 2020 that photovoltaic parks already generate “the cheapest electricity in history” with costs below $20/MWh in the best locations. This clearly explains the “export fever”: countries with deserts and good country risk conditions (Morocco, Australia, Oman, United Arab Emirates, etc.) dream of becoming “the OPEC of the sun.”