EGP and partners secure preferred bidder status for 850MW windpower projects in Morocco

14 March 2016 (Last Updated March 14th, 2016 18:30)

A consortium of Enel Green Power (EGP), Nareva Holding and Siemens Wind Power has secured the preferred bidder status for the Moroccan utility Office National de l'Electricité et de l'Eau Potable's (ONEE) wind integrated project tender second phase.

A consortium of Enel Green Power (EGP), Nareva Holding and Siemens Wind Power has secured the preferred bidder status for the Moroccan utility Office National de l'Electricité et de l'Eau Potable's (ONEE) wind integrated project tender second phase.

The consortium has been pre-awarded the right to design, build, develop, finance, operate and maintain five windpower projects with a combined capacity of 850MW in Morocco.

Midelt (150MW), Tanger (100MW) and Jbel Lahdid (200MW) projects will be up in northern Morocco, while Tiskrad (300MW) and Boujdour (100MW) projects will be constructed in the south.

Constructing the five wind projects is expected to cost around €1bn.

"Constructing the five wind projects is expected to cost around €1bn."

EGP will raise the fund, corresponding to its 50% shareholding, to meet the project cost through a combination of equity and loans from international financial institutions.

EGP claimed that its investment is in line with the growth targets set out under its strategic plan for 2016 to 2019.

EGP CEO Francesco Venturini said: "We are leveraging on our knowledge and expertise, in collaboration with our partners, to contribute to Morocco's ambitious energy plan that has renewables at its core. The country is an example in North Africa of reliability and transparency in supporting the development of renewable technologies."

The five wind farms are expected to be completed and enter operations between 2017 and 2020.

Once the windfarms become operational, they are expected to serve the growing demand for energy, while helping Morocco achieve its objective of increasing power production from renewable energy sources.

EGP and Nareva will set-up five special purpose vehicles holding the projects. Siemens Wind Power will offer the wind turbines, with several components being manufactured locally.