Name and Location
Safi thermal power plant project, Morocco.
Client
Safi Energy Company is a joint venture between Morocco’s Nareva, France’s GDF Suez and Japan’s Mitsui Corporation.
Project Description
The project involves the construction of a 1 386 MW coal-fired power plant in the coastal city of Safi, in southern Morocco.
The project includes the construction and operation of two 693 MW coal-fired units, which will use supercritical technology. It will be the second-largest coal-fired power station in the country and will cater for about 25% of the country’s power demand.
The power plant will increase Morocco’s coal imports by 3.5-million tonnes a year.
Value
Safi Energy has secured $2.6-billion in financing to build the power plant, including $900-million from the Bank of Japan, $500-million from Moroccan banks Attijariwafa Bank and BNP’s BMCI, and $485-million from international banks from France and Britain.
Other investors are expected to provide the balance of the project finance.
Duration
The plant will start operating in 2018.
Latest Developments
The Morocco government is investing 4.7-billion dirhams to build a coal port in Safi to meet the plant’s needs.
The port will be designed to import seven-million tonnes of coal a year, as government plans to build another plant of the same capacity in the area in the next few years.
Key Contracts and Suppliers
South Korea’s Daewoo Engineering & Construction Co (construction contract).
On Budget and on Time?
Not stated.
Contact Details for Project Information
Safi Energy, tel +1 713 623 1806 or fax +1 713 953 1059.
Daewoo Engineering & Construction Co, tel +82 222 883 560.