TAQA Morocco Completes Financing for 96 MW Wind Farm Phase I

en.Wedoany.com Reported - On November 3, TAQA Morocco completed the financial close for Phase I of the Boujmil wind farm in northern Morocco. The project has an installed capacity of 96 MW and a total investment of approximately MAD 1.3 billion. The transaction was financed by a syndicate of four Moroccan banks, with the project contracts and financing agreements having been fully executed. The first electricity is planned to be supplied in the second half of 2027.

This transaction marks TAQA Morocco's first green financing. The four participating banks are Banque Centrale Populaire, Attijariwafa Bank, Bank of Africa, and Saham Bank. The four financial institutions jointly participated in the Phase I project financing arrangement to support the construction of the wind farm.

The project is being constructed, operated, and maintained by TAQA Morocco Wind Corporation (TMWC). The project company is a subsidiary of TAQA Morocco Wind Green Energy (TMGE), which is wholly owned by TAQA Morocco. The project company will be responsible for the construction of Phase I as well as the operation and equipment maintenance after commissioning.

The Boujmil wind farm is located between Tangier and Tetouan in northern Morocco. The overall planned installed capacity of the project is up to 144 MW, of which Phase I, for which financial close has now been completed, accounts for 96 MW. According to the developer's published planning estimates, once the wind farm reaches its planned scale, it is expected to provide electricity equivalent to the demand of 120,000 households and achieve approximately 250,000 tonnes of CO2 emissions reductions per year.