Morocco: EBRD signs for Khalladi wind farm

The European Bank for Reconstruction and Development (EBRD), the Banque Marocaine du Commerce Extérieur (BMCE) and the Clean Technology Fund (CTF) have signed a financing package for the 120MW Khalladi wind farm near Tangier – the first project to be supported by the EBRD’s new $250m fund for renewable generation in the southern and eastern Mediterranean. The EBRD and BMCE are providing E126m ($143m) to US-based developer UPC Renewables for the wind farm’s construction, operation and maintenance. The developer group comprises Saudi-based Acwa Power Global Services, UPC and investment fund Arif, managed by Infra Invest.