ACWA Power, Saudi Arabia’s developer, has announced it has won the fourth phase of the solar power complex Noor Ouarzazate in Morocco.
According to sources, the company will sign the contract of the 70 MW PV project next week.
ACWA’s win is far from surprising as ACWA Power’s participation in Noor Ouarzazate’s development has been significant. The company had won the tender for all the three phases of development.
The first phase, with a capacity of 160 MW, was inaugurated last February. The project investment ranges between MAD6.3 billion (US$615m) and MAD8 billion (US$782 million). The contracted power purchase price is MAD1.6 (US$0.159) per kWh.
The 200 MW second phase will sell its electricity output at MAD1.36 per kW. The 150 MW third phase will sell power at MAD 1.42 per kWh and the total amount for the project is US$700 million.
Once the for phases are completed, the Ouarzazate complex will be the largest multi-technology solar power plant in the world with a capacity of 580 MW and a total investment of MAD24 billion (US$2.6 billion).