EBRD to support Moroccan wind upgrade

Banking

The owner of one of Africa's oldest wind farms has secured financing to repower the facility to double its capacity to 100 megawatt (MW). The European Bank for Reconstruction and Development said it is co-financing the repowering of the Koudia Al Baida wind farm in the north of Morocco, by providing a senior loan of up to EUR 44 million (USD 45 million) to the Koudia Al Baida Energy Company.

The company is a special purpose vehicle (SPV) owned by the Moroccan Agency for Sustainable Energy (MASEN) and EDF Renewables.

The EBRD loan is part of a senior debt provided by a group of international and Moroccan banks: Société Générale, Attijariwafa Bank, Banque Centrale Populaire and Bank of Africa. EBRD will also provide a EUR 5 million loan, while the Climate Investment Funds' (CIF) Climate Technology Fund (CTF) will provide a EUR 4.5 million loan to MASEN to finance its equity contribution to the project SPV.

ADVERTISEMENT

Hungarians Want to Live to 96 Analysis

Hungarians Want to Live to 96

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Wizz Air Malta Names Managing Director Appointments

Wizz Air Malta Names Managing Director

2 Protests to Take Place in Budapest on Aug 20 City

2 Protests to Take Place in Budapest on Aug 20

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.