The necessary documents with regard to the investment contracts for the construction of the Safi Thermal Power Plant at a total amount of $2.6 billion or around 23 billion dirham were already signed.
The said plant, which is considered the largest in Morocco, will supply an annual production of approximately 25 percent of the national electricity demand by 2018, with an amassed capacity of roughly 1,386 MW. As part of the national strategy to meet the mounting electricity at the lowest cost and the environmental demand, this latest power generation plant is intended to optimize the environmental implementation and make the efficiency high in evaluation with other conventional plants. It will significantly cut down carbon dioxide emissions and lessen the costs associated with fuel.
The plant will be built by a South Korean Engineering and construction company. The 1.8 billion U.S. dollar construction contract was inked on August 9, 2013 between the manufacturer and the Safi Energy Company.
Starting from its construction and during the time of its operation, the plant will extensively play a role in the dynamics of economic and social development of the Kingdom, and for the most part, the region of Safi through job creation and utilization of the services of local SMEs.
The development of rail and power infrastructure will be allowed including the existing or underway port including the new port of Safi outfitted with the coal dock that will supply the plant with coal and the construction works that were commenced by King Mohammed VI in April 2013.
The commercial operation of the plant is expected to kick off in 2017.