Green Giraffe acted as the sole financial advisor to EDF Renewables and Mitsui & Co. for the non-recourse financing of the 87MW Taza wind farm in Northern Morocco
Green Giraffe advised EDF Renewables and Mitsui & Co. on the financing of the 87MW Taza onshore wind project, located North West of the town of Taza in Northern Morocco.
ONEE (Office National de l’Electricité et de l’Eau Potable), the Moroccan national utility, is acting as off-taker for the project.
The sponsors arranged a EUR 110M senior debt package for the construction of the windfarm, provided by a mix of Japanese multilateral agencies and commercial banks including JBIC, NEXI, SMBC, MUFG, and BMCE. MUFG, SMBC and BMCE acted as Mandated Lead Arrangers on the transaction.
EDF Renewables have ambitious targets to further deploy renewable energy power in Morocco and in Africa. It is the third power project for Mitsui in Morocco. The collaboration between the public and private sectors confirms the Japanese government plans to continue its support for the African region.
Green Giraffe acted as the sole financial advisor to the sponsors since April 2017 and assisted them on all aspects of the transaction, including the negotiations of the financing documentation and the project contracts. We are very pleased to have contributed to reaching this major landmark transaction for EDF Renewables, Mitsui and the Kingdom of Morocco.
