- Morocco’s Platinum Power will build a 108MW hydropower plant in Central Morocco.
- Platinum Power will partner with China First Highway Engineering Company (CFHEC), a subsidiary of the state-owned China Communication Construction Company, to finance, build and run the 108-megawatt plant.
- The project has a capex of US 300 million.
Platinum Power’s chief executive Omar Belmamoun, made the announcement yesterday in Casablanca. The two companies have also agreed to partner on renewable energy projects elsewhere in Africa, where they both see growing demand for clean energy.
Platinum Power is currently developing hydropower projects with a capacity of 325 MW in Morocco, 365 MW in Cameroon and 300 MW in Ivory Coast.
Morocco is part of a regional expansion in renewables, with plans to generate 52 percent of electricity from solar, wind and hydropower by 2030 from 34 percent currently. The nation is also starting construction this year on 850 megawatts of wind power. Morocco plans to add 6 gigawatts of installed renewables capacity including solar, wind and hydropower between 2018 and 2030.
Earlier this week, the Moroccan Agency for Sustainable Energy (MASEN) put out a RFQ as part of the first stage in a tender process to build, operate and maintain a 230 MW solar plant near the town of Midelt in the Atlas Mountains. Read more
Related news: Earlier this year Platinum Power was under threat of bankruptcy. Read more
Author: Bryan Groenendaal