The American group UPC Renewables leaves Morocco. At the origin of this departure, technical and financial difficulties with the consequence, the abandonment of its two wind farm projects in Dakhla and Laâyoune.
Specializing in the development and operation of renewable energy projects, the American group UPC Renewables arrived in Morocco in 2008. After more than a decade of operation, the company is about to close the door.
The group is throwing in the towel after having sold its shares in the Khalladi wind farm to the highest bidder, of which it was originally the main developer. This 120 MW project is considered by specialists in the renewable energy sector to be one of the greatest success stories of electricity production projects under Law 13-09.
The group of American origin, currently based in Hong Kong, also had the ambition to develop two other wind farms, one in Dakhla and the other in Laâyoune. Six years after the launch of the preliminary studies, the former majority shareholder of Acwa Power Khalladi finally decided to end these two projects and to liquidate the UPC Renewables subsidiary in the South.
The departure of the American group can also be justified by the lack of visibility of its two projects in Laâyoune and Dakhla due to certain technical and funding difficulties.