Paris/Rabat, September 9, 2020 – EDF Renewables, one of the world leaders in renewable energies, and Mitsui & Co. Ltd., an international trading and investment group with a diversified portfolio of activities, announce that the conditions are met for the launch of the construction site of the first phase of the Taza wind farm, located approximately 15 km northwest of the town of Taza in northern Morocco. This first phase, made up of 27 wind turbines, has a total capacity of 87 MW.
The project benefits from an electricity sales contract (PPA) concluded with ONEE (National Office of Electricity and Drinking Water) and MASEN (Moroccan Agency for Sustainable Energy) for a period of 20 years.
The start of work follows the establishment of financing provided by the Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), Sumitomo Mitsui Banking Corporation (SMBC), MUFG Bank, Ltd., as well as the Moroccan bank Bank of Africa, and the finalization of the various agreements with Moroccan public entities, stakeholders: ONEE and MASEN.
The partners EDF Renewables and Mitsui & Co., Ltd. will respectively represent 60% and 40% of private interests in the project. The Moroccan public party – represented by ONEE, MASEN and the Hassan II Fund, created in 2000 to support investment in Morocco's infrastructure and structuring projects – will be able to hold up to 35% of the capital of the project company.
During the construction period, which will involve around 500 people, and throughout its operation, the Taza wind farm will contribute to the economic and social development of the region.
When it comes into operation at the beginning of 2022, the production of the park will be equivalent to the annual electricity consumption of 350,000 people, or 70% of the population of the province of Taza.
The future Taza wind farm is part of the Kingdom of Morocco's strategy which aims to increase the share of renewable energies in the electricity mix to 52% by 2030.
Bruno Bensasson, Executive Director of the EDF Group in charge of the Renewable Energy Sector and Chairman and CEO of EDF Renewables, declared: “We are pleased to realize the Taza wind project by starting its construction with our partner Mitsui & Co.. We would like to thank the Kingdom of Morocco, its administrative services, the local authorities and our partners – ONEE and MASEN – for their trust and support throughout the development of the project notwithstanding the health crisis we are going through. This project confirms our commitment to supporting the Kingdom of Morocco in its ambitious energy transition policy. It is also part of the EDF group's CAP 2030 strategy, which aims to double its renewable capacities worldwide from 28 GW to 50 GW net, between 2015 and 2030.
Kazumasa Nakai Head of Operations of Infrastructure Projects Business Unit, added: “We are pleased to announce the start of construction of the Taza project with EDF Renewables. Mitsui &Co., Ltd. has made several investments in Morocco and the Taza project represents its first investment in the renewable energy sector in Africa. We are honored that Mitsui &Co., Ltd. continues to participate in the Moroccan energy strategy, including the achievement of the national objective of 52% of renewable energies by 2030. We would like to sincerely thank all parties who have been involved in this project for a long time, and look for other opportunities to collaborate together for the development of Morocco. ".
About EDF Renewables
EDF Renewables is a world leader in renewable electricity, with an installed capacity of nearly 13.2 GW gross worldwide. Its development is mainly focused on wind power and photovoltaic solar power. Mainly present in Europe and North America, EDF Renewables continues its development by taking a position in promising emerging markets such as: Brazil, China, India, South Africa and the Middle East. The Company, which is strongly positioned in the offshore wind sector, is also present in other renewable energy sectors such as energy storage. EDF Renewables ensures the development and construction of renewable energy projects as well as their operation and maintenance. EDF Renouvelables is the subsidiary of the EDF group dedicated to the development of solar and wind energy.
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PRESS CONTACT
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About Mitsui & Co., Ltd.
Leveraging our worldwide operational centers, network and information sources, Mitsui operates multilaterally in activities ranging from product sales, logistics and international financing to development major international infrastructure projects and other projects in the following areas: Iron and Steel Products, Mineral Resources and Metals, Infrastructure Projects, Integrated Transportation Systems, Chemicals, Energy, Food Resources, Food Products and Services , Consumer Services, Innovation and Development.