I P F A and assigned teams were all pleased to provide model audit services including a full tax and accounting review.

 

I P F A also acted as international finance counsel to the commercial lenders EIB, KFW and AfDB . The facilities comprise an approximately EUR 1.7 billion direct loan facility. World Bank is to partly finance the second phase of the 500 MW Ouarzazate project. The World Bank is providing $400 million directly, while its Clean Technology Fund (CTF) is to grant $119 million.

German state-owned bank KfW [KFW.UL] would be the largest lender for the two plants as it has granted Morocco 654 million euros ($824 million). The African Development Bank (AfDB), the European Commission and European Investment Bank are financing the remaining amount.

MASEN, the Owner, has chosen parabolic mirror technology for the 200 MW concentrated solar plant at an estimated cost of 1 billion euros, while the 100 MW plant, expected to cost 700 million euros, will be built as a solar power tower.