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FINANCIAL NEWS
Taqa wins USD1.4b loan for Morocco power plant
21 Jun 2012
(MENAFN) Abu Dhabi National Energy Co (Taqa) has firmed USD1.4 billion financing credit facility to fund the expansion of its power plant in Morocco, Reuters reported.
The loan is for 16 years, the company said, adding that it will use the cash to boost Jorf Lasfar power plant capacity by 700 megawatts to a total of 2,056 megawatts when expansion is completed.
Jorf Lasfar is the biggest coal-fired power plant in the Middle East and North Africa region, and Morocco’s first independent power producer.
In May, Taqa’s CEO Carl Sheldon said that North African countries offered the company opportunities for new power and water projects.
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