Financing closed for the Khalladi wind farm in northern Morocco led by the Saudi group Acwa Power. Total amount mobilized: 126 million euros for this 120 MW project with 40 Vestas turbines. EBRD and BMCE provided the debt of the project.
The Saudi group ACWA Power, specialized in water and energy, has completed financing for the Khalladi wind farm in the north of Morocco, whose work has begun. This project, of a total capacity of 120 MW, is developed through the form of an independent production of electricity within the framework of the law known as law 13-09.
The total cost for implementation is estimated at € 163 million. EBRD and BMCE are financing this project for € 63 million each. An amount that represents 77.3% of the total project and will be allocated to the company UPC Renewables SA, the promoter of the project. Acwa Power has become the majority shareholder at 70% since October 2014 (buying these shares from UPC Renewables, the originator of the project in 2008), making it one of its first forays into wind power globally.
The other shareholders are ARIF since 2014, for 20%, and UPC Renewables for 5%.
Read more (source: L’Usine Nouvelle).