Saudi Arabia’s Acwa Power has inaugurated the 120MW Khalladi wind project in Tangier, Morocco.
The project, which has a total investment cost of $170m, has been developed by Acwa Power in partnership with the local Arif investment fund.
The project was financed with equity from Acwa Power and Arif, and long tenor debt from the European Bank for Reconstruction and Development (EBRD), Clean Technology Fund (CTF) and the Moroccan BMCE Bank of Africa.
Acwa Power is developing a number of major renewable energy projects in Morocco. In November 2016, the Saudi firm signed an agreement to develop the 177MW Noor photovoltaic (PV) 1 solar project, the country’s first major PV solar farm.
In 2016, Acwa Power completed Morocco’s first major concentrated solar power (CSP) project, the 160MW Noor 1 CSP plant. The developer plans to complete the Noor 2 and 3 CSP projects, which have a total capacity of 350MW, by the middle of 2018.
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