- Morocco has secured a sizeable investment in its wind farm initiative, as part of a response to the country's energy needs, using renewable sources.
The deal comes following conclusion of a strategic partnership, between Abu Dhabi National Energy Company PJSC (TAQA), and Paris based THEOLIA, a leader in production of electricity from wind energy, for construction and operation of a 300 MW wind farm located in Tarfaya, Morocco.
Morocco has since early 1990s undertook studies on Atlantic coast and north-east part of the country to explore suitable locations for wind farming. The country has some of meanest wind velocity locations measured at about 11.5 m/s at a height of 40m.
The new deal will also enhance studies on possibility of optimizing wind sites in Morocco, in the Abdelkhalek Torres wind farm near the current site. According to the new partnership, completion of studies could offer a double opportunity, being possible repowering of 84mw turbines commissioned in 2000 and possible extension of the wind farm by several hundred additional MWs.
Commenting following sealing the deal, both companies' leadership expressed high hopes in placing renewable wind farms energy in emerging markets.
"Today's announcement is a real milestone for TAQA; it marks our first step into renewable energy. Our strategy is to diversify across the energy value chain in different territories, and by joining forces with THEOLIA, we feel that we are in a good position to bid for new wind farm capacity," said Mr Peter Barker-Homek, Chief Executive Officer of TAQA.
He further said the deal was truly in line with the company's growth strategy and vision.
Jean-Marie Santander, Chairman and CEO of THEOLIA, was also optimistic, saying "This alliance confirms the development strategy of THEOLIA in emerging markets. Together, THEOLIA's expertise and TAQA's strength will give birth to a major player in the production of electricity from renewable energy in Morocco and the emerging markets in general."
The government-controlled Taqa, one of the largest energy investment companies in the Middle East, owns and operates a 1,356 mw thermal power station in Morocco, which provides half of the country's electricity.
Though financial details of the new deal were not disclosed, reports have hailed it as one of milestones towards Morocco meeting its energy production targets.
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