Germany and Morocco have agreed to a "close co-operation" on expansion of renewable energy and will now press on with a 140 MW wind station near Tangier "with the main aim of contributing to global climate protection." The EUR 167 million project will be co-financed by Germany, which will provide EUR 50 million, while the European Investment Bank is stumping up another EUR 80 million. Morocco's share of 22% will be provided by national energy company Office Nationale de l'Electricite (ONE). The EUR 50 million in German finance is a so-called "verbundkredit," or combined credit, in which half stems from the federal ministry for co-operation and development and half from the financial market, arranged by the German development bank, KfW. A tender procedure to choose a company to oversee development of the Tangier project is already running. Bidding to provide plant and services will probably start in mid 2005, according to the KfW.
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