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FINANCIAL NEWS
Saudi ACWA wins USD20b Moroccan solar power deal
11 Jan 2015
(MENAFN) The Moroccan solar energy agency (Masen) said it has granted a consortium led by Saudi Arabia’s ACWA Power International a USD20bn contract to build two solar power plants, with a total capacity of 350 megawatts, in the southern Moroccan city of Ouarzazate, Gulf Daily News reported.
The two plants are the second phase of the 500 MW Ouarzazate project, which is part of a government plan to produce two gigawatts of solar power by 2020, equivalent to about 38 percent of Morocco’s current installed generation capacity.
ACWA Power, which is already building a 160 MW plant in the first stage of the project in the Ouarzazate area, said that its led consortium includes Spain’s Sener, adding that it prices its offer at USD0.15 per kilowatt (KW) for the first 200 MW plant with parabolic mirror technology, while it priced the plant with solar power tower technology at USD0.10 per KW, with the plants scheduled to start generating power in 2017.
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