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FINANCIAL NEWS
International Power wins Morocco power deal
07 Nov 2010
(MENAFN) Morocco’s power utility ONE said that it has awarded a 1,300 megawatt coal-fired electricity plant deal to a consortium led by Britain’s International Power plc., Reuters reported.
International Power, in partnership with Moroccan energy firm Nareva, beat a consortium linking French electricity group EDF and China’s Datang International Power to win the contract to build the station at the Atlantic coastal Safi city, 370 km (230 miles) south of Rabat.
The plant is expected to go on stream by end of 2012 and produce 10 billion kilowatt per year — 27 percent of Morocco’s electricity consumption– when it reaches it full output capacity in 2014, ONE added.
ONE gave no financial details of the deal and a Nareva spokesperson was unable to give details immediately.
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