Acciona Formalizes Financing for Casablanca Desalination Plant

Cuatrecasas has advised the Spanish entity Acciona, a member of the Al Baidaa Desalination Company consortium along with Green of Africa and AfriquiaGaz, on the formalization of project contracts for the construction of a desalination plant in Casablanca (Morocco)—the largest in the world powered entirely by renewable energy.

Located in Sidi Rahal, in the Greater Casablanca area, the desalination plant represents a total investment of 6.5 billion Moroccan dirhams (613 million euros), which will be implemented through a public-private partnership agreement with the National Office of Electricity and Drinking Water of Morocco. The project’s financial structure is 80% debt and 20% equity. Partner financial institutions include Spain’s Corporate Internationalization Fund (FIEM) through its Official Credit Institute (ICO), Société Générale, Attijariwafa Bank, Banque Centrale Populaire, Bank of Africa, CaixaBank, and COFIDES.

Sectoral expansion

The project, which responds to the growing demand for drinking water in the country's economic metropolis, will be the largest desalination plant in Africa. With a capacity of 300 million m³ per year, suitable for consumption by 7.5 million people and potential agricultural use, it will supply the residents of Casablanca, Settat, Berrechid, Bir Jdid, and the neighboring areas.