Enel Green Power, Nareva and Siemens awarded preferred bidder status for 850 MW of wind capacity in Morocco

0

Enel Green Power (EGP), in consortium with the Moroccan energy company Nareva Holding and the German wind turbine manufacturer Siemens Wind Power, has been awarded the “preferred bidder status” at the “2nd phase of the wind integrated project” tender held by the Moroccan utility ONEE (Office National de l’Electricité et de l’Eau Potable). The consortium has been pre-awarded the right to develop, design, finance, construct, operate and maintain five wind farms in Morocco with a total capacity of 850 MW, to be confirmed following the signing of the purchase agreements for the energy generated by the wind farms. Out of the five projects, Midelt (150 MW), Tanger (100 MW) and Jbel Lahdid (200 MW) are located in northern Morocco while Tiskrad (300 MW) and Boujdour (100 MW) are located in the country’s south.

EGP and Nareva will establish and own five special purpose vehicles (SPV) holding the projects. Siemens Wind Power will provide the wind turbines, with several components manufactured locally.

FuturENERGY
The construction of the five wind farms will require a total investment of approximately 1 €b. EGP will fund the cost of the project corresponding to its 50% shareholding by a mix of equity and debt, the latter through project finance facilities provided by international financial institutions. EGP’s investment is in line with the growth targets set out in the company’s current strategic plan (2016-2019).

The wind farms are expected to be completed and enter operation between 2017 and 2020. In line with the tender rules, the energy generated by the five wind farms will be sold to ONEE under 20 year-power purchase agreements.

Once completed, the five facilities will contribute to meeting Morocco’s growing energy demand and the country’s objective to increase power produced from renewable sources. Renewables currently account for about 32% of the Kingdom of Morocco’s generation mix and the country aims to increase this share to 42% by 2020 and 52% by 2030.