News

Saudi firm’s Morocco project moving ahead

01 August 2016

A wind power project being set up in Morocco by a subsidiary of Saudi-based Acwa Power and another party is making progress.

Acwa Power Khalladi, formerly known as UPC Renewables, and 75 per cent owned by Acwa Power and 25 per cent by Arif Investment Fund, has issued orders to suppliers and contracts for the project.

This 120 MW wind power farm, located in Jebel Sendouq, Khalladi, in the north of Morocco, is the first project to be developed by Acwa Power and Arif under the Moroccan Renewable Energy Law. 

“This new wind energy project reinforces our positioning as a major player in the country’s renewable energy sector,” said Rajit Nanda, chief investment officer, Acwa Power. “Our investment in Morocco is for the long run and with our partner Arif we will be contributing even further to the transformation of the energy sector that Morocco is undergoing in alignment with its national strategy.”

Once operational, the Khalladi project will directly supply the industrial clients connected to the high voltage network. The project, under construction since November 2015 and representing a global investment of 1.7 billion dirhams ($460 million), will result in greenhouse gas reductions of over 200,000 tonnes of CO2 per year once operational. 

This project confirms the commitment of Acwa Power and its partner Arif to the Moroccan National Renewable Energy Strategy/Wind Power plan that aims for 2,000 MW Wind power capacity by 2020, representing 14 per cent of national installed capacity. It will support industrial integration and create job opportunities in the kingdom with approximately 300 workers during the construction peak period.

Arif is an investment fund specialised in infrastructure projects. Its shareholders are leading national and international institutions such as RMA Watanya, African Bank for Development, European Investment Bank, International Financial Society, Proparco, Bio Invest, and the Belgian Development Agency. 

Acwa Power is a developer, investor, co-owner and operator of a portfolio of power generation and desalinated water production plants currently with a presence in 12 countries including in the Middle East and North Africa, Southern Africa and South East Asia regions. Acwa Power’s portfolio, with an investment value in excess of $32 billion, can generate 22.8 GW of power and produce 2.5 million m3 /day of desalinated water to be delivered on a bulk basis to state utilities and industrial majors on long-term off-take contracts under public-private partnership, concession and utility services outsourcing models.




More Stories



Tags