Taqa awards Morocco power plant contract

29 May 2011

Mitsui and Daewoo E&C selected to build phases 5 and 6 of Jorf Lasfar power plant

Abu Dhabi National Energy Company (Taqa) subsidiary Jorf Lasfar Energy Company has awarded a $1.1bn contract to Japan’s Mitsui and South Korea’s Daewoo E&C to expand a power plant in Morocco.

Mitsui will build two 350MW generation units on an engineering, procurement and construction (EPC) basis next to the existing 1,400MW Jorf Lasfar power plant.

The first unit is due to be brought online by December 2013 and the second is to follow by April 2014.

US-headquartered Lazard and the local Banque Marocaine du Commerce Exterieur acted as financial advisers on the project.

The current Jorf Lasfar plant, which is southwest of Casablanca, is owned by Abu Dhabi National Energy Company (Taqa).

Taqa, which bought the plant from the US’ CMS Generation in 2007, signed the contract to expand the plant in May 2009. The plant was built in 1998 with a project finance loan of $1bn, making it one of the first IPPs in the region.

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