ACWA Power confirms final orders for 120-MW wind project in Morocco

ACWA Power Khalladi has confirmed final orders to suppliers and contractors in connection with its 120-MW wind project in the north of Morocco.

ACWA Power Khalladi confirms final orders for its #Wind #Power Project in Morocco https://t.co/QlCxK9LqVk pic.twitter.com/7igmYKxoYs

— ACWA Power (@ACWAPower) July 11, 2016

The company, which is 75% owned by Saudi Arabia’s ACWA Power and 25% owned by the ARIF Investment Fund, said today that all conditions precedent for its project financing have been satisfied.

The overall investment for the wind farm is estimated at MAD 1.7 billion (USD173m / EUR 156.8m ). The European Bank for Reconstruction and Development (EBRD) and Banque Marocaine du Commerce Exterieur (BMCE) will provide a financing package of EUR 126 million.

As previously reported, ACWA Power Khalladi has picked Denmark’s Vestas Wind Systems A/S (CPH:VWS) as turbine supplier for the project. It is expected to deliver 40 wind turbines of 3 MW each.

Vestas has not yet issued a separate release to confirm the order.

When the wind park enters service, it will be supplying its electricity output directly to industrial clients connected to the high voltage network. The project is being implemented as part of the country’s strategy to reach 2 GW of installed wind power capacity by 2020.

(MAD 1.0 = USD 1.017/EUR 0.929)

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