JBIC agrees loan for wind power plant in northern Morocco

In:

Renewable energy

Region:

Middle East & Africa

The Japan Bank for International Cooperation has signed a €44 million (JBIC portion) with Moroccan company Parc Eolien de Taza SA (PETS) - invested in by Mitsui & Co - for the Taza onshore wind power generation project in Morocco.

PETS will construct, own and operate an onshore wind power generation plant with a total generation capacity of 87.21MW in Taza, in the northern area of Morocco. PETS will sell the generated electricity to Morocco's public electricity and water company, the Office National de l'Electricité et de l'Eau Potable, for 20 years following the completion of construction.

Nippon Export and Investment Insurance will provide insurance a €44million loan by MUFG Bank and Sumitomo Mitsui Banking Corporation for the project.

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