EBRD & Climate Technology Fund support repowering wind farm in Morocco

The European Bank for Reconstruction and Development (EBRD) co-finances the repowering of the Koudia Al Baida wind farm in the north of Morocco.

The EBRD is providing a senior loan of up to €44 million to the Koudia Al Baida Energy Company S.A., 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 €5 million loan, while the Climate Technology Fund (CTF) will provide a €4.5 million loan to MASEN to finance its equity contribution to this project.

Thanks to this funding, 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.

Koudia Al Baida wind farm is the oldest utility-scale wind farm in Africa and Morocco’s first renewable independent power producer. It will also be the first wind-repowering project in Africa and for the Bank.

The renewable energy generated by the new farm will lead to CO2 emission reductions of circa 300,000 tons per year.