Clifford Chance

Clifford Chance advised the lenders on the innovative financing of Al Wahda 990MW gas-fired power plant in Morocco by a mix of debt funds and commercial banks

Clifford Chance advised the lenders, Attijariwafa bank, Bank of Africa and debt funds, Nord Energy and Flexenergy on the financing of 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, a first in Morocco, is based on a completely new structure that involves two debt funds, Nord Energy and Flexenergy managed by BMCE Capital Titrisation and Attijari Titrisation, in addition to a Bank contribution from Attijariwafa bank and Bank of Africa.

This strategic project for the Kingdom of Morocco, will play a key role in introducing renewable energies into the national energy mix and ensuring the flexibility of the power system.

The Clifford Chance team involved in this project was composed of Ouns Lemseffer (Partner), Meriem Komiha and Yasmine Hitane (Associates).