Acwa Power faces $47m loss in Morocco solar plant outage

Acwa Power faces $47m loss in Morocco solar plant outage

Saudi Arabia’s Acwa Power estimates it will incur a revenue loss of $47 million following a breakdown at one of its Morocco renewable energy plants.   The 150-megawatt Noor III solar power plant will face a “forced outage” until November 2024 due to a leak in the molten salt hot tank, the company said in a […]Saudi Arabia’s Acwa Power estimates it will incur a revenue loss of $47 million following a breakdown at one of its Morocco renewable energy plants.  

The 150-megawatt Noor III solar power plant will face a “forced outage” until November 2024 due to a leak in the molten salt hot tank, the company said in a filing on the Saudi bourse.

Acwa Power intends to repair the tank or build a new storage tank, it added.

The project, which became operational in Q4 2018, was built at the cost of $862 million, according to the company website.

In December 2023, Morocco said it is accelerating plans to add 9 gigawatts to its electricity generation capacity with 7GW coming from renewables. 

“We want not only to move from coal or cater to the intermittency of renewables. We also need gas infrastructure to prepare for the green ammonia, the new methanol we want