SeeNews Renewables
by Mariyana Yaneva
Moroccan power company TAQA Morocco, owned by Abu Dhabi National Energy Co (ABD:TAQA), on Friday said it will soon start construction of a 140 MW wind farm near Tanger.
Having secured all permits needed to operate as independent power producer (IPP) under the 13-09 law on renewable energy, the company is now looking for financing for the MAD 1.5 billion (USD 150m/ EUR 140m) scheme.
The 60 MW first phase of the project is scheduled to start construction in the Melloussa industrial zone near the Tanger Med port at the start of 2016, the company said.
The investment will be structured in a separate entity, in which TAQA Morocco will hold a 60% stake while the remainder will be held by local investors, some of which will also be clients for the power output of the wind farm.
Financing will come in 30% from own funds and 70% in debt.
TAQA Morocco has been developing this project for about three years now and has already invested several dozens of million dirhams in feasibility and preliminary studies.
Mariyana is a founding member of the SeeNews Renewables team. With eight years of professional experience in renewable energy she has built strong expertise in the wind industry and French-speaking markets.
