InnoVent SAS, a renewable energy developer based in France, closes the financing for the 2 MW Oualidia 1 and 33 MW Oualidia 2 onshore wind projects in Morocco.
The company has raised MAD 200 million to start its construction, through structured financing from a consortium of Moroccan banks and a crowdfunding campaign. Also, the company is investing MAD 50 million in equity in the project.
The combined annual revenue of the power plants has been estimated at MAD 50 million per year.
Country updates
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April 04, 2019
ACWA Power welcomes SAHAM Assurances as new institutional partner in 120 MW Moroccan wind project
Entering a new phase in its development, ACWA Power Khalladi opens its Capital to SAHAM Assurances a new institutional investor, who will hold 24% of the Capital and who will sit on the Board of Direc...
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November 05, 2018
Enel Green Power and Nareva sign all financing agreements to start construction of 180 MW wind project in Morocco
The Moroccan utility ONEE (Office National de l'Electricité et de l'Eau Potable), the Moroccan Agency for Sustainable Energy (“MASEN”) and Midelt Wind Farm SA, a vehicl...
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October 15, 2018
EIB approves financing support for solar projects in Morroco, Poland and hydro project in Cameroon
The EIB Board approved financing worth EUR1 billion (US$1.14 billion) for new energy investment. This includes backing a 42 MW solar project in Poland, two 500 MW solar schemes in Morocco and a 420 MW...
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September 26, 2018
SENER accomplished first synchronization of Noor Ouarzazate III solar tower power plant with storage system
SENER is about to start the final tests at Noor Ouarzazate III, after completing, last August, the first synchronization of the 150 MW Concentrated Solar Power (CSP) plant to the Moroccan grid. With t...
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August 08, 2018
IFC and Gaia Energy to develop 22 projects in 9 countries in Africa
IFC, a member of the World Bank Group, has forged a new partnership with Gaia Energy to create a joint platform for the development of wind power and other renewable energy projects in Africa.
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