Morocan Agency for Solar Energy (MASEN) has selected Saudi Arabian power engineering firm ACWA Power and China’s Chint group to develop the “NOOR PV IV” Program.

The NOOR PV IV Program consists of three projects: NOOR Ouarzazate IV, with a capacity of around 70MW, NOOR Laayoune, 80MW and NOOR Boujdour, 20MW. Global solar EPC firm Sterling and Wilson said,it has signed agreement with a consortium led by ACWA power to construct these projects.

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MASEN has also signed contracts with KfW bank for €60 million to help finance the project NOOR Ouarzazate IV. The three projects will also be financed by the first green bonds in Morocco, set to be issued by MASEN for a sum of MAD1.15 billion and underwritten by Al Barid Bank, Attijariwafa Bank, the  Moroccan Retirement Fund CMR, and the Moroccan reinsurance service “Société Centrale de Réassurance SCR”.

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Signature Masen Noor Ouarzazate I

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