Home / Finance & Economy / EDF and Mitsui launch an 87 MW wind farm in Morocco

EDF and Mitsui launch an 87 MW wind farm in Morocco

EDF, one of the world leaders in renewable energies, and Mitsui & Co. Ltd., an international trading and investment group with a diversified portfolio of activities, are launching the 1st phase of the Taza wind farm, located around 15 km northwest of the city of Taza in northern Morocco. This first phase, made up of 27 wind turbines, has a total capacity of 87 MW.

This project will employ around 500 people and is part of Morocco’s strategy to increase the share of renewable energies in the electricity mix to 52% by 2030. The project benefits from a sales contract of electricity concluded with ONEE and MASEN (Moroccan Agency for Sustainable Energy) for a period of 20 years. Funding is provided by Bank of Africa (BoA), Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), Sumitomo Mitsui Banking Corporation (SMBC) and MUFG Bank, Ltd.

Note that EDF and Mitsui & Co., Ltd. will represent respectively 60% and 40% of the private interests in the project. ONEE, MASEN and the Hassan II Fund could hold up to 35% of the capital of the project company, which is scheduled to start operating in early 2022.

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