Int'l Lenders Pony Up $1.4B For Moroccan Power Project

Law360, New York (June 21, 2012, 4:27 PM EDT) -- A unit of energy conglomerate Abu Dhabi National Energy Co. PJSC nailed down $1.4 billion worth of financing to expand a Casablanca power plant, representing the first foray into Morocco by a trio of Asian export credit agencies, the developer announced Thursday.

The 16-year multicurrency, nonrecourse loans will be furnished by a passel of international lenders, according to a statement from Abu Dhabi National Energy, which belongs to a government-owned entity and is known by its stock code, TAQA.

The financing was arranged through Jorf Lasfar...
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