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Wed 21 Nov 2012 10:15 AM

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

Riyadh-based ACWA Power will provide Morocco with electricity in 25-year agreement

Saudi-led group in $1bn Morocco solar power deal
Solar energy, renewable energy, clean energy generic

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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