Vestas to Supply Turbines for Morocco Wind Farm Financed by EBRD

  • Wind farm expected to be completed by the end of 2017
  • Project allows producers to sell power to industrial clients

Vestas Wind Systems A/S will supply 40 turbines to a 162 million euro ($182 million) Moroccan wind park being partly financed by the European Bank for Reconstruction & Development.

The 120-megawatt Khalladi wind park, in the Tangiers region of northern Morocco, will be developed by Acwa Power International, according to a statement by Vestas on Tuesday. It will be one of the first clean energy project financed by the EBRD in Morocco that allows private producers to sell power to industrial consumers.

About 52 million euros will be financed with an EBRD loan, according to the bank. The project will also be backed by Morocco’s BMCE bank and Argan Infrastructure Fund, an Africa-focused infrastructure fund managed by Infra Invest, Vestas said.

The Danish wind turbine manufacturer will supply its V90-3.0 turbines to the project for an undisclosed sum, from the second quarter of 2017. The project is due to be commissioned in the fourth quarter of 2017.

Morocco is the only North African country without significant fossil fuel reserves and imports more than 90 percent of its energy, according to the International Energy Agency. The nation’s ruler, King Mohammed VI, wants to generate 42 percent of the country’s electricity from solar, wind and hydro-power by 2020.

The deal is Vestas’s first large order in Morocco in 16 years, said Marco Graziano, Vestas Mediterranean president, in the statement. The project will help increase Morocco’s share of wind power to 20 percent by 2020.

— With assistance by Anna Hirtenstein

    Before it's here, it's on the Bloomberg Terminal. LEARN MORE