Project Finance for Ultra Super Critical Coal-Fired Power Generation Project in Morocco, the First for JBIC and for the African Continent
Supporting the participation of a Japanese corporation in a power generation project

  • Area: Africa
  • Infrastructures
  • [Project Finance]

JBIC signed a project finance loan agreements with Morocco-based Safi Energy Company S.A. (Safi), in which Mitsui & Co., Ltd. and other investors have stakes, to finance the Safi coal-fired power generation project. In this project, Safi will construct and operate an ultra super critical coal-fired power plant with a capacity of approx. 1,250 MW in the Safi area of Morocco, and will sell the electricity to the Office National de l'Electricité et de l'Eau Potable for 30 years after the completion of construction work. It is expected that the plant will serve as an important source of power for the country, where demand for electricity has been growing in recent years. These loans are made under the JBIC Facility for African Investment and Trade Enhancement (FAITH),*1 which was established in accordance with the Fifth Tokyo International Conference on African Development (TICAD V), and is in line with various Japanese government policies including the Strategy Relating Infrastructure Export and Economic Cooperation, Strategic Energy Plan, and Actions for Cool Earth (ACE).
  1. *1The JBIC Facility for African Investment and Trade Enhancement (FAITH) was established in June 2013 to make use of JBIC financing, guarantees, etc., and to promote private-sector lead growth and the construction of infrastructure in Africa.
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