https://en.sputniknews.africa/20250125/morocco-to-construct-990-mw-gas-power-plant-for-420-million-countrys-bourse-regulator-says-1070348903.html
Morocco to Construct 990 MW Gas Power Plant for $420 Million, Country's Bourse Regulator Says
Morocco to Construct 990 MW Gas Power Plant for $420 Million, Country's Bourse Regulator Says
Sputnik Africa
Currently, Morocco's total installed electric power capacity is 11,918 megawatts, primarily powered by coal. 25.01.2025, Sputnik Africa
2025-01-25T16:42+0100
2025-01-25T16:42+0100
2025-01-25T16:42+0100
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Morocco's water and electricity utility (ONEE) will construct a 990 MW gas-fired power plant for $420 million, according to the country's bourse regulator AMMC.ONEE will finance 20% of the 990 MW gas-fired power plant, with the remaining 80% funded by loans from Attijariwafa Bank and Bank of Africa, along with securitization funds.The plant, featuring two open-cycle gas turbines and using diesel as backup fuel, will be built in northern Morocco on the Alwahda site near a gas pipeline used for Spanish imports since 2023.Morocco is seeking to diversify its energy sources by introducing gas. The country also aims to achieve a 52% share of renewable energy capacity by 2030, up from the current 45%.
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morocco, north africa, gas, gas pipeline, energy, renewable energy , africa, bank, investment
morocco, north africa, gas, gas pipeline, energy, renewable energy , africa, bank, investment
Morocco to Construct 990 MW Gas Power Plant for $420 Million, Country's Bourse Regulator Says
Ekaterina Shilova
Writer / Editor
Currently, Morocco's total installed electric power capacity is 11,918 megawatts, primarily powered by coal.
Morocco's water and electricity utility (ONEE) will construct a 990 MW gas-fired power plant for $420 million, according to the country's bourse regulator AMMC.
ONEE will finance 20% of the 990 MW gas-fired power plant, with the remaining 80% funded by loans from Attijariwafa Bank and Bank of Africa, along with securitization funds.
The plant, featuring two open-cycle gas turbines and using diesel as backup fuel, will be built in northern Morocco on the Alwahda site near a gas pipeline used for
Spanish imports since 2023.
Morocco is seeking to diversify its
energy sources by introducing gas. The country also aims to achieve a 52% share of renewable energy capacity by 2030, up from the current 45%.
