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Infra Invest manages ACWA Power Khalladi with 75% and 25% investment from ACWA Power and ARIF Fund respectively.
The construction of the 12oMW Khalladi wind farm in Tangiers by ACWA ( Australian Community Workers Association) is complete. The aim of this wind farm is to supply large industrial companies in Morocco at a vying price.
Hence, the wind firm will 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.
The project was privately funded with a long tenor debt from European Bank for Reconstruction and Development (EBRD), Clean Technology Fund (CTF), and the Moroccan BMCE Bank of Africa (BMCE).
Khalladi project is in line with Morocco’s target of increasing renewable energy contribution to the network grid by 2020. Morocco renewable energy sector has attracted significant investments with the current policy.
These funds has made ACWA to deliver on the NOOR I solar plant and now Khalladi wind farm projects. Furthermore, upcoming as well as ongoing power project will go smoothly due to these funds. Seven new power plants in total will operational by the end of this year.
In conclusion, ACWA Power has made significant investments in Morocco, with projects and operations expected to coming decades. Hence, they are contributing to the country’s economic and social development following the friendly energy policy laid down by the government.
Hence, providing reliable electricity supply via renewable energies of which Morocco is rich with at a cheaper rate.