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.
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Read moreThe 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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Read moreIFC, 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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