Germany supports wind-generated energy plant in Morocco

Germany will contribute 50 million Euros to the construction of one of two wind-generated energy plants in Essaouira (south Atlantic city).

The German public development bank "FKW" (Kreditanstalt fur Wiederaufbau) will extend the Moroccan electricity office (ONE) 50 million Euros. Half of the amoun is a 40-year loan carrying an annual interest rate of 0.75% with a 10-year grace period and the other half is a financial loan.

The plant will produce an annual average of 200 GWH and service the Moroccan electric grid.