EBRD and CTF to repower Africa’s oldest wind farm

July 21, 2022
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EBRD

The European Bank for Reconstruction and Development (EBRD) is supporting Morocco in its transition to a low-carbon economy by co-financing the repowering of the Koudia Al Baida wind farm in the north of the country.

The EBRD is providing a senior loan of up to €44 million, to the Koudia Al Baida Energy Company S.A., a special purpose vehicle (SPV) owned by the Moroccan Agency for Sustainable Energy (MASEN) and EDF Renewables. This is part of a senior debt provided by a group of international and Moroccan banks: Société Générale, Attijariwafa Bank, Banque Centrale Populaire and Bank of Africa.

EBRD will also provide a MAD 52 million loan (equivalent to €5 million), while the Climate Investment Funds’ (CIF) Climate Technology Fund (CTF) will provide a €4.5 million loan to MASEN to finance its equity contribution to the project SPV.

Through this investment, Koudia Al Baida will repower the existing 50 MW wind farm located in the Tlat Taghramt region near Tangier and increase its capacity to 100 MW.

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Press release

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Countries covered:

  • Morocco