Morocco Coal Power Finance

Safi Energy Company (Safiec) is ready to build a 1.39GW coal-fired power plant in southwest Morocco, following the signing of project finance agreements with state utility ONEE. The project will cost $2.6bn, with start-up scheduled for 2018.

Safiec, led by France’s GDF Suez, will sell electricity to ONEE under a 30-year power purchase agreement. Coal for the plant will be delivered to a terminal at a new port which is under construction at Safi. The plant will comprise two 693MW units.

GDF Suez says Safi will be the first coal-fired project in Africa to use supercritical technology, which offers 10% higher efficiency than conventional plants (typical efficiency 33%). The generating sets will be built by Korea’s Daewoo Engineering and Construction and operated and maintained by Safiec. (CONTINUED - 289 WORDS)