France’s EDF Renewables and Japanese trader Mitsui & Co (TYO:8031) have started building the 87-MW first phase of the Taza wind farm project in northern Morocco.
Located of 15 kilometres (9.32 miles) north-west of the namesake city, Taza will feature 27 wind turbines capable of generating enough power to satisfy annual consumption needs of 350,000 people, EDF Renewables said.
The Taza wind project is supported by a 20-year power purchase agreement (PPA) with the National Office of Electricity and Drinking Water (ONEE) and the Moroccan Agency for Sustainable Energy (MASEN).
The consortium partners have secured financing from the Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), Sumitomo Mitsui Banking Corporation (SMBC), MUFG Bank Ltd and the Moroccan lender Bank of Africa.
EDF Renewables, the renewables arm of French utility group Electricite de France SA (EPA:EDF) will hold 60% of the private interests in the project, with Mitsui owning 40%. The Moroccan side, namely the ONEE, MASEN and the Hassan II Fund, could hold up to 35% of the project company’s capital, EDF Renewables said.
Source: Renewables Now
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