The National Electricity and Drinking Water (Onee) and a Chinese financial institution entered into a financing agreement worth 299.88 million dollars or about 2.5 billion dirham to cover 85% of the construction of the new coal plant in Jerada.
The coal power plant has a net capacity of 318 MW. The intervention of the financial institution in the financing of this project was announced in July 2013. The institution, which is a major player in the economic and trade development of China and the main financing channel for Chinese investment abroad, has expressed keen interest to assist the Board in its future investment projects.
The project was awarded to a Chinese power construction company specializing in the construction of power plants, as a result of a petition process for international tenders. This new project, which will be commissioned in the fourth quarter of 2017, will allow the extension of thermal power plant in Jerada, with an aggregate capacity of 165 MW. It will be built on the site and currently with 3 slices with a unit capacity of 55 MW (3 x 55 MW) fired coal.
The project is part of the equipment plan Onee to accommodate the brisk growth in demand for electricity in our country. It will optimize the use of infrastructure of the existing plant on the site of Jerada, the dedicated transportation network and the case of port and rail infrastructure in the region.
According to the Onee, the plant will be equipped with technology that enables compliance with international environmental standards. It will further provide positive impact on the economic and social development of the city and its surroundings through the creation of new jobs.