Morocco

Morocco

GDF goes ahead with 300MW Morocco project

MOROCCO: French energy giant GDF Suez and Moroccan conglomerate Nareva Holding have broken ground on their jointly owned 300MW project at Tarfaya, on the country's southern Atlantic coast.

Siemens will supply and install 131 2.3MW turbines and carry out the electrical work, with full commissioning scheduled for late 2014.

GDF Suez and Nareva were awarded the project on a build, own, operate and transfer basis, under a 20-year power purchase agreement with state utility the Office National de l'Electricité et de l'Eau Potable (ONEE), following an international call for tenders.

Debt financing of MAD4 billion (EUR360 million) will be provided by a consortium of three Moroccan banks: Attijariwafa Bank, Banque Centrale Populaire and Banque Marocaine du Commerce Extérieur.

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