Ashurst Casablanca Advises MASEN and Bank of Africa on Financing of Noor Atlas 305 MW Solar PV Programme Across Six Moroccan Sites

"Ashurst Casablanca advised Moroccan Agency for Sustainable Energy (MASEN) and Bank of Africa, acting as senior lenders, on the financing of the Noor Atlas solar PV programme: six photovoltaic plants across Morocco (Aïn Béni Mathar, Boudnib, Bouanane, Enjil, Tata and Tan-Tan) with a total capacity of 305 MW. The deal uses an innovative blend of concessional loans from KfW and the European Investment Bank alongside commercial financing from Bank of Africa. Noor Atlas is the second phase of MASEN/ONEE’s PV programme and supports Morocco’s target to reach at least 52% (and potentially near 60%) renewables in the electricity mix by 2030. Ashurst’s Casablanca team was led by Ouns Lemseffer, with Meriem Komiha, Silvija Jurgsaityte, Yasmine Hitane and Lilian Decot."