Project Notice
|
| PNR |
43628 |
| Project Name |
DFF - Project Green Light II |
| Project Detail |
Provision of up to USD 25 million senior secured reserve based loan (with no upstream gas drilling financing) in favour of SDX Energy Morocco Ltd to replace inefficient and polluting heavy fuel oil burners in the region. The facility will have 5 year tenor and will be split into 2 tranches. A committed tranche of USD 10 million will be used to connect local industries to the Companys existing gas fields in the Gharb region. An uncommitted tranche of up to USD 15 million is contingent on SDX Morocco acquiring further natural gas assets in Morocco, which would be monetised through infrastructure investment including the potential usage of state-of-the-art Compressed Natural Gas ("CNG") technology.
Project Objectives
The operation will enable SDX Morocco to finance part of its USD 65 million investment plan to expand its operations in Morocco and thus also supports the countrys efforts to put gas, alongside renewable energy, at the centre of its decarbonisation plan in response to COP 21 commitments. |
| Funded By |
European Bank for Reconstruction and Development (EBRD) |
| Sector |
Railways |
| Country |
Morocco , Northern Africa |
| Project Value |
MAD 65,000,000
|
