The wind farm will be sited in the southern Moroccan desert
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16 January 2013 01:23 GMT
Quintet of EU turbine makers bid for Theolia project in Morocco
09 November 2012 05:09 GMT
Trio of EU lenders pony up $380m for Moroccan CSP plant
20 November 2012 11:48 GMT
By Andrew Lee in London
Thursday, February 07 2013
Tarfaya – which GDF is billing as the largest wind project in Africa – reached
financial close at the end of 2012, it says.
The wind farm will sell its power to Morocco’s state utility ONEE under a
20-year deal, and will account for 40% of the North African nation's wind
capacity, adds GDF.
It expects full operations at the plant, on a coastal site in the southern Moroccan desert, at the
end of 2014. The French group says the good wind conditions should enable a load factor of 45%.
GDF will own and operate Tarfaya in conjunction with local partner Nareva.
It will be financed through a mix of equity and local debt, with GDF and
Nareva sharing the equity 50/50.
A consortium of three Moroccan banks will stump up the €360m ($488m) debt finance.
Gérard Mestrallet, chief executive of GDF Suez says: “The Tarfaya project is in
line with the group’s development strategy in fast-growing markets.
"As the largest wind farm ever constructed by
GDF Suez, it also demonstrates our commitment to investing in renewables, as
well as delivering essential energy infrastructure to Africa.”
Morocco wants renewables to account for 42% of installed generation capacity
by 2020, says GDF.
Its government is also pursuing concentrating solar power (CSP) projects, and
handed a 160MW contract to a Saudi group last autumn.
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