Photon info
Saudi independent power producer ACWA Power will develop and operate a 170 MW PV facility in the Kingdom of Morocco. The Noor PV I Program will consist of three projects: Noor Ouarzazate IV with a capacity of around 70 MW, Noor Laayoune, 80 MW and Noor Boujdour 20 MW. ACWA Power submitted the lowest tariff price for the project at 4,6 MADc/kWh ($0.45/kWh).
The Noor PV I Program will be included in the recently launched ACWA Power RenewCo, a new company created to group ACWA Power’s existing renewable energy portfolio, which already exceeds 1 GW. The company will be headed by Chris Ehlers, who is currently COO Renewables at ACWA Power and has been appointed CEO.
In collaboration with the Chint Group, Sterling & Wilson and Shapoorji Pallonji, ACWA Power will undertake the Noor PV I Program, launched by Masen (Moroccan Agency for Sustainable Energy), under a 20-year build-own-operate-transfer scheme. Masen has entered into a PPA to off-take the output generated electricity and will also act as a shareholder together with ACWA Power in addition to sole lender. Construction on Noor PV I will begin in Q1 2017 and is estimated to take 12 months to complete. Technical details were not disclosed.
