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Saudi-led consortium wins USD1b Moroccan solar contract  Join our daily free Newsletter

MENAFN - 25/09/2012

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(MENAFN) Morocco's Solar Energy Agency's (Masen) director, Mustafa Bakkoury, stated that Morocco has awarded a USD1 billion solar-project contract to a consortium led by Saudi International Company for Water and Power (ACWA), reported Arabian Business.

Bakkoury said that the consortium, which will set up a 160-megawatt (MW) concentrated solar power plant, consists of Spanish firms Aries IS and TSK EE, in addition to ACWA.

He added that the consortium would be in charge of the plant's design, finance, construction, operation and maintenance work.

Work on the plant, which will be located near the southern city of Ouarzazate, will begin before the end of 2012, and will take 2 years.

It is worth noting that any gap between the cost of producing solar electricity and the price the state power utility will pay to acquire the electricity from Masen will be covered by the Moroccan government.

 






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