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GDF SUEZ has announced the construction of the 300MW Tarfaya wind farm in Morocco, which will be the largest wind project in Africa.

The project is owned in partnership with Nareva Holding, a Moroccan energy company. The Tarfaya plant has been contracted to supply electricity to the Moroccan state utility Office National de l’Electricité et de l’Eau Potable (ONEE) under a 20-year long-term Power Purchase Agreement (PPA) on a Build, Own, Operate and Transfer (BOOT) basis. The project achieved financial close on 26 December 2012. It will be financed through a blend of equity and local debt financing, with the equity shared 50% GDF SUEZ and 50% Nareva. The debt financing of 4 billion dirham (€ 360 million) will be provided by a consortium of three Moroccan banks: Attijariwafa Bank, Banque Centrale Populaire and Banque Marocaine du Commerce Extérieur. Full commissioning of the wind farm is anticipated at the end of 2014.
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