Platinum Power and China First Highway Engineering Co (CFHEC) signed an agreement on Wednesday to co-develop, finance, and build a $300 million, 108 megawatt hydropower plant in central Morocco.
Rabat – Platinum Power and CFHEC will also partner on renewable energy projects elsewhere in Africa, reports Reuters. This will be the first time the companies have partnered on a project.
Platinum Power is a Morocco-based company, majority-owned by US investment fund Brookstone Partners. It specializes in the development, financing, and construction of renewable energy projects.
It is a key player in the hydropower industry in Morocco. In October last year, the company received authorization from the Moroccan Ministry of Energy to build eight new hydropower projects across the country.
Platinum Power is also currently developing projects in Cameroon and Ivory Coast.