Clifford Chance Advised Lenders On Financing Of Al Wahda Gas-Fired Power Plant
Clifford Chance Advised Lenders On Financing Of Al Wahda Gas-Fired Power Plant
Clifford Chance provided legal counsel to the lenders, Attijariwafa Bank, Bank of Africa, and debt funds Nord Energy and Flexenergy on the financing of the Al Wahda 990 MW gas-fired power plant in Morocco, a project led by l'Office National de l'Électricité et de l'Eau Potable (ONEE).
This innovative financing marks a first in Morocco, featuring a novel structure that incorporates two debt funds, Nord Energy and Flexenergy, managed by BMCE Capital Titrisation and Attijari Titrisation, alongside contributions from Attijariwafa Bank and Bank of Africa.
The project is strategically significant for Morocco, as it will play a vital role in integrating renewable energy into the national energy mix while enhancing the flexibility of the country’s power system.
The Clifford Chance team advising on this transaction included Partner Ouns Lemseffer, along with Associates Meriem Komiha and Yasmine Hitane.
