The Morocco National Office of Electricity and Drinking Water (ONEE) and Safi Energy Company (SAFIEC) have signed the project finance agreements for the 1,368 MW Safi coal-fired power project located near the city of Safi in Southwest Morocco. The 2×693 MW Safi coal-fired power plant will use state-of-the-art ultra-supercritical technology and will be constructed by Daewoo Engineering & Construction Co. (South Korea). Operation & Maintenance will be performed by SAFIEC. The electricity produced from the Safi power plant, expected to be completed in 2018, will be sold to ONEE for 30 years under a power purchase agreement. The project cost is estimated at US$2.6bn (Dir23bn). SAFIEC is owned by a consortium of 35% GDF SUEZ (France), 35% Nareva Holding (Morocco) and 30% Mitsui & Co. (Japan).
The project is part of Morocco’s national strategic plan to meet its electricity demand that has more than double since 2000 (source: Enerdata, Global Energy Data).
Source: Enerdata, Global Energy Data
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