The companies will invest a budget of MAD 1.5 billion ($163 million) to achieve the first phase of the project.
Rabat – France’s EDF Renewable Energies (EDF-EN), Japanese trading house Mitsui, and Moroccan energy and electricity authorities announced the feasibility for the launch of construction of the first wind farm in Taza, northern Morocco.
In a statement, Moroccan Agency for Sustainable Energy (MASEN), National Office of Drinking Water and Electricity (ONEE), and the international companies announced that the conditions are “all met for the launch of the construction.”
The Taza wind farm will be located approximately 15 kilometers northwest of the city, the statement said.
The first phase will include 27 wind turbines with a capacity of 87 megawatts, out of the 159 megawatts capacity that the wind farm will have.
The start of work “follows the finalization of various agreements and contracts with Moroccan public entities, stakeholders ‘ONEE and MASEN’ and the establishment of financing provided by international banks.”
The list of banks includes Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), Sumitomo Mitsui Banking Corporation (SMBC), MUFG Bank, and the Moroccan Bank of Africa (BMCE).
The investors will contribute a budget of MAD 1.5 billion ($163 million) for the first phase of the project.
EDF Renewables and Mitsui represent 60% and 40%, respectively, of the private interests in the project and together will hold 65% of the capital of the project company.
Morocco’s ONEE, MASEN, and the Hassan II Fund will hold 35 shares.
The companies will mobilize a 500-person staff to carry out the project, which seeks to contribute to the region’s economic and social development.
The project is set to be operational in early 2022.
“The park’s production will be equivalent to the annual electricity consumption of 350,000, or around 70% of the population of a province such as Taza,” the statement said.
The Moroccan and international companies signed the agreement for the project in December 2019.
The infrastructure seeks to mitigate 200,000 tonnes of CO2 emissions per year in the first phase.
“The project provides for industrial compensation, by virtue of which the private developer undertakes to invest and acquire goods and services from Moroccan companies,” the Ministry of Mines said after signing of the agreement.
The Taza wind farm project is part of Morocco’s renewable energy approach, which seeks to continuously increase the share of renewable energies in the electricity mix to 52% by 2030.
A report from Morocco’s Economic, Social, and Environmental Council (CESE) said in July that the North African country has the potential to produce 96% of its electricity using renewable energy by 2050.