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GDF Suez SA Nareva Holding and Mitsui & Co Ltd Awarded Power Purchase Contract in Morocco

Monday, 9 Sep 2013 08:00pm EDT 

GDF Suez SA announced that L’Office National de l’Electricité et de l’Eau Potable (“ONEE”) and Safi Energy Company S.A. (“SAFIEC”), which is owned by a consortium of GDF Suez SA, Nareva Holding and Mitsui & Co Ltd have entered into a 30-year Power Purchase Agreement for the Safi coal-fired power project. The project includes the construction and operation of a 2×693 MW ultra-supercritical coal-fired power plant in the Safi region and the sale of electricity to ONEE for 30 years following completion of the plant. Financial close of the project is anticipated in the first quarter of 2014 and commercial operation of the plant is expected to start in 2017. 

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