Masen awards 800MW Noor Midelt I hybrid solar project
The Moroccan Agency for Solar Energy (Masen) has awarded the $781.5 million 800MW Noor Midelt I hybrid CSP/PV/storage solar power project to a consortium comprising EDF Renewables, Masdar and Green of Africa (a joint venture between three Moroccan groups - FinanceCom, Akwa Group and AMHAL).
The winning bidder offered $0.069 per kWh, beating a rival offer of $0.099/kWh from an ACWA-led consortium. Construction is set to begin in Q4 2019, with power to be delivered to the grid in 2022.
The project is part of Morocco’s broader renewable energy strategy to produce 52% of its energy from renewable sources by 2030. Debt for the scheme, which will be lent directly to Masen, is to be provided by the World Bank, EBRD, EIB, KfW, AfDB, Agence Francais de Developpement (AFD) and Clean Technology Fund. Synergy Consulting is advising the consortium. Ernst & Young and Norton Rose Fulbright are advising Masen.
