July 2 (Renewables Now) - Saudi project developer ACWA Power has inaugurated the 120-MW Khalladi wind farm in Tangiers, northwestern Morocco, it was announced last week.
ACWA Power developed the MAD-170-billion (USD 179m/EUR 154m) project in collaboration with ARIF investment fund, managed by Infra Invest. They own the asset on a 75/25 basis.
The project was financed with equity from the two partners and a EUR-120-million (USD 140m) loan from the European Bank for Reconstruction and Development (EBRD), the Banque Marocaine du Commerce Exterieur (BMCE) and the Climate Investment Funds’ Clean Technology Fund (CTF). This is the first private renewable energy project backed by the EBRD in Morocco.
The 40-turbine wind park is located at Jbel Sendouq, where it generates power for several large industrial companies, mainly operating in the cement sector.
(MAD 1.0 = USD 0.105/EUR 0.090)
(EUR 1.0 = USD 1.165)