Saudi-led group in $1bn Morocco solar power deal

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A consortium led by Saudi Arabia-based ACWA Power International has signed a US$1bn contractor to provide Morocco with electricity from the country’s first solar-thermal power plant, Bloomberg reported.

Under the agreement, the North African nation’s government will buy power for 25 years from a 160mw plant being developed by ACWA alongside Spain-based Aries Ingenieria & Sistemas SA and TSK Electricidad SA.

ACWA picked Acciona SA and Sener Grupo de Ingenieria SA to design and build the plant in September. The facility will use mirrors that concentrate sunlight in order to generate steam and power turbines.

When completed, the plant will capture about 470,000 tonnes a year of carbon dioxide emission.

Riyadh-based ACWA said it aims to sign a project financing deal by the end of this year, with the plant starting operations in the second half of 2015.

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