Spain participates in the financing and co-development of the large desalination plant in Casablanca

The Al Baidaa Desalination Company (ADEC) announced the financial closure of the ambitious Greater Casablanca Desalination Plant project, with a total investment of 6.5 billion dirhams. 

This project was awarded following a tender process under a public-private partnership (PPP) contract with the National Office for Electricity and Drinking Water (ONEE). According to the statement issued by ADEC, the plant is part of Morocco's national water strategy and seeks to meet the growing demand for drinking and agricultural water in the Greater Casablanca region. 

The future desalination plant will have an annual capacity of 300 million cubic metres and will use reverse osmosis technology. Its entire operation will be powered by 100% renewable energy, thanks to a 360-megawatt wind farm located in Bir Anzarane, developed by Green Of Africa Dakhla. 

Of the total production, 250 million m³ will be used for human consumption and the remaining 50 million m³ will be used for agricultural irrigation, thus contributing significantly to the economic and social development of the region. 

Construction work began on 1 April 2024, initially financed with ADEC shareholders' own capital. According to reports, work is progressing according to schedule. 

The project has structured financing under the 'Project Finance' modality, amounting to 5.2 billion dirhams, provided by leading national and international financial players. 

These include 320 million euros from the Spanish Government's Fund for the Internationalisation of Companies (FIEM) and Société Générale (France), with guarantees provided by CESCE (Spain). In addition, 1.8 billion dirhams are being financed by Moroccan entities such as Attijariwafa Bank, Banque Centrale Populaire and Bank of Africa. This solid financial architecture demonstrates the financial sector's confidence in a large-scale project with strategic impact. 

The plant is being co-developed by the Spanish company Acciona Agua, a subsidiary of the Acciona group, and Green Of Africa, a joint venture formed by the Moroccan groups AKWA Group and O Capital Group. 

As the official statement concludes, the desalination plant is scheduled to come on stream at the end of 2026.