InnoVent closes financing for Oualidia 1 and 2 onshore wind project in Morocco

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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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