OUARZAZATE III (TOWER)

Promoter – Financial Intermediary

MOROCCAN AGENCY FOR SOLAR ENERGY

Location

• Morocco

Description

Construction and operation of a 150 MW concentrating solar power (CSP) Tower plant under the third phase of the Ouarzazate solar power complex.

Objectives

The project's main objective is to help developing a globally-available, non-carbon power generation technology that ultimately may not require fossil fuel back-up capacity and reduce the costs of CSP for world benefit. By creating a new green industry and increasing the penetration of renewable energy in the country's energy mix, the project will contribute to Morocco's objectives of a more secure energy supply, energy diversification, CO2 emission reductions, increased employment, and protecting the local environment.

Comments

This operation is covered by the EU Guarantee for EIB loans outside the EU.

Sector(s)

• Energy - Electricity, gas, steam and air conditioning supply

Under ELM Guarantee

This operation is covered by the ELM Guarantee.

Proposed EIB finance (Approximate amount)

EUR 82 million

Total cost (Approximate amount)

EUR 855 million

Environmental aspects

If the project were located in the EU, it would fall under Annex II of the Environmental Impact Assessment (EIA) Directive (85/337/EEC) as amended, requiring the competent national authority to determine the need for an EIA. Under Moroccan Law, the project requires a mandatory EIA including initial scoping and public consultation. During appraisal, the Bank will ensure that the project complies with the Bank's principles and standards as regards environmental and social issues.

Procurement

Within the EU, the promoter, being a public contracting authority, would be subject to public procurement procedures according to 2004/17/EU, including publication of contract notices in the Official Journal of the EU. In line with the Bank's principles and its statute, the promoter is following the provisions of the Bank's Guide to Procurement, which includes amongst others international competitive bidding and Official Journal of the EU contract notice publication for the items to be financed by the Bank.

Status

Signed - 22/12/2014