MASEN, EDF secure funding for 1st wind repowering project in Morocco
The Moroccan Agency for Sustainable Energy (MASEN) and its French partner EDF Renewables have reached financial close on a repowering project that will double the capacity of their 50-MW Nassim Koudia Al Baida wind farm in Morocoo -- Africa’s oldest wind farm.
The scheme will add another 50 MW to the wind park’s capacity, MASEN said on Monday.
The financial closure will enable the immediate start of construction activities at the site near the city of Tangier in northern Morocco. The repowered plant will use is Siemens Gamesa rotor blades and is due to be commissioned in the second quarter of 2024.
Debt financing for the project was extended by Morocco’s Attijariwafa Bank, Banque Centrale Populaire, Bank of Africa, the European for Reconstruction and Development (EBRD) and Societe Generale. While MASEN did not provide financial details about the transaction, the EBRD separately said it is extending up to EUR 44 million (USD 45m) in senior debt, while an additional EUR 4.5 million will come from its Climate Technology Fund (CTF).
The Nassim Koudia Al Baida wind farm was installed back in 2000 by the National Office for Electricity and Drinking Water (ONEE). In its upgraded version, the plant will be able to generate electricity to supply around 420,000 residents.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.