ACWA Power inaugurates 120MW Khalladi wind farm in Morocco

ACWA Power has inaugurated its 120MW Khalladi wind farm in Tangiers, with the aim of supplying clean power to a number of large industrial companies, mainly operating in the cement sector in Morocco at competitive prices.

The wind firm is set to produce and supply 370 GWh of energy to industrial companies annually. This is equivalent to a yearly average consumption of a city of 400,000 people and will contribute to the reduction of more than 144,000 tonnes of CO₂ emissions per year. The Khalladi wind farm, developed by ACWA Power in collaboration with ARIF investment fund, is situated at Jbel Sendouq, 30km from Tangiers and represents an investment of US $170m.

This entire project was privately funded and investment was financed with equity from ACWA Power and ARIF with a long tenor debt, from the European Bank for Reconstruction and Development (EBRD) in collaboration with the Clean Technology Fund (CTF), and the Moroccan BMCE Bank of Africa (BMCE).

With renewable energy playing an important role in the overall development of countries in Africa, including Morocco, the Khalladi project will contribute Morocco in achieving of the 2020 target of increasing renewable energy component of the energy mix to 42%.Part of this ambition to also develop 2 GW of wind capacity all by 2020.

According to ACWA Power chairman, Mohammad Abunayyan, “Morocco’s energy sector offers attractive investment opportunities, due to a well-established regulatory framework that was put in place by the Moroccan government and due to the country having already attracted significant investments in solar and wind energy.

This has made it possible for ACWA Power to, within six years, deliver the NOOR I solar plant (160 MWe) and the Khalladi wind farm (120MW) and a series of other investments in construction which by the end of 2018, will accumulate to 800 MW of generation capacity in the country,” said Abunayyan.

ACWA Power Khalladi is 75% and 25% owned by ACWA Power and ARIF Fund respectively, and it is managed by Infra Invest.