Construction on the first phase of the Taza Wind Farm, 15km north-west of Taza in north Morocco is about to start. EDF Renewables and Mitsui & CO announced last week that construction was about to start. The first phase will consist of 27 wind turbines to generate 87MW. The project will benefit from a 20-year Power Purchase Agreement with the National Offices of Electricity and Drinking Water (ONEE) and the Moroccan Agency for Sustainable Energy (MASEN).
This important milestone follows the execution of the necessary agreement with ONEE and MASEN. The project finance will be provided by the Japan Bank for International Cooperation; Nippon Export and Investment Insurance; Sumitomo Mitsui Banking Corporation; MUFG Bank; and (Moroccan bank) Bank of Africa.
EDF Renewables and Mitsui & Co respectively represent 60% and 40% of the private investment in the project. The Moroccan public part – from the ONEE, MASEN and Hassan II Fund, established in 2000 to support investment in Morocco’s infrastructure and structuring projects – could hold up to 35% of the project company’s capital.
Source: EsiAfrica via CrudeMix Africa