Translated version of this PSD: French
Project Description
The EBRD is financing the construction and operation of a 120MW wind farm located near Tangiers in Morocco (the project).
Project Objectives
The project is one of the first private projects to be developed under the current regulatory framework (13-09 law) that allows private renewable projects to sell their electricity directly to high voltage clients and it will support the country in increasing its renewable energy capacity and reducing its reliance on costly hydrocarbon imports.
Transition Impact
Main transition impacts stem from:
(1) Demonstration of new replicable behaviour and activities: the project has substantial demonstration effects in showing that the opening of renewable energy markets to the private sector under the 13-09 law can succeed.
(2) More widespread private ownership: the project opens a new market to the private sector, bringing about an increase in the number of private players in the Moroccan electricity market.
(3) Greater competition in the project sector: the project is expected to open up the Moroccan renewable energy market to private-to-private projects, which may lead to more competition in the energy sector.
Client Information
UPC RENEWABLES SA
The borrower is a special purpose vehicle incorporated in Morocco for the sole purpose of developing, constructing and operating the project. The borrower is ultimately 75% owned by the International Company for Water and Power Projects (ACWA Power), and 25% by ARIF, a North-Africa and Sub-Saharan Africa-focus infrastructure fund managed by Infra Invest.
EBRD Finance Summary
EUR 51,578,949.00
The EBRD loan of up to MAD 561.3 million (equivalent to EUR 52.2 million) is accompanied by concessional funding, provided by the Clean Technology Fund and secured under the SPREF framework. A Moroccan commercial bank co-finances the project alongside the Bank.
Total Project Cost
EUR 162,135,897.00
Up to MAD 1,748 million (EUR 162.6 million equivalent)
Environmental and Social Summary
Categorised A. An Environmental Impact Assessment (EIA) has been developed by the sponsor for local permitting purpose and the project was permitted in 2012. A gap analysis of the EIA against IFC performance standards and EBRD's Performance Requirements has been completed. Based on this gap analysis, an Environmental and Social Impact Assessment (ESIA) disclosure package has been developed and was disclosed in line with the Bank's Performance Requirements for 60 days prior to Board consideration. Please see ESIA page for more details.
The project was signed in November 2015. The Project company has put in place a team to implement the Environmental and Social Action Plan. The Project is being monitored by EBRD with the assistance of an independent Consultant.
2017 update: The Project is under construction. Commissioning is expected in Q1 2018.
Technical Cooperation
None.
Company Contact Information
Mouhsine Alaoui
ACWA Power Villa 6-G-7, Angle Avenue Mehdi Ben Barka et Atthuya, Hay Riad 10100 Rabat
Morocco
Business opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
Public Information Policy (PIP)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
