Morocco’s national water and electricity utility ONEE plans to construct a 990MW gas-fired power plant with an investment of Dh4.15bn ($420m).
Reuters reported that the power plant in the north of the country will be partially financed by ONEE, which will contribute 20% of the total cost.
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The remaining funding for the project will be secured through loans from the Attijariwafa Bank and the Bank of Africa, as well as investments from two securitisation funds, FT Nord Energy and FT Flexenergy.
The power plant will include two open-cycle gas turbines and will utilise diesel as a back-up fuel source.
The strategic location of the plant, on the Alwahda site near a pipeline, leverages Morocco’s current infrastructure, which has been importing natural gas from Spanish terminals since 2023.
This development is part of Morocco’s broader energy strategy, which seeks to reduce dependence on traditional energy sources and increase the share of renewables in its energy portfolio.
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By GlobalDataThe country is working towards achieving 52% of its total installed energy capacity from renewable sources by 2030, up from the current 45%. Towards this goal, it planning a natural gas terminal at the Nador West Med port in the northeast.
This terminal will be connected to the existing pipeline, further integrating the nation’s gas infrastructure.
As of 2024, Morocco’s total installed energy production capacity stands at more than 11.9GW, with coal the predominant source.
