Nippon Export and Investment Insurance (NEXI) has decided to provide Buyer’s Credit Insurance for a project finance loan extended to Morocco’s Jorf Lasfar Coal-fired Power Plant Expansion Project which is sponsored by Abu Dhabi National Energy Company P.J.S.C. ("TAQA").

The loan will be extended by Japan Bank for International Cooperation (JBIC) and private sector banks that are BNP Paribas Tokyo Branch, Standard Chartered Bank Tokyo Branch, and Societe Generale Tokyo Branch. NEXI’s Insurance will cover part of the loan provided by the private sector banks.

The purpose of this project is to expand an existing coal-fired plant operated by TAQA in Morocco with two additional units generating 350MW each. The engineering, procurement and construction (EPC) contract has been awarded to a consortium of Mitsui & co., Ltd. of Japan and Daewoo E & C of South Korea, and the plant’s major equipment will be exported from Japan including Mitsubishi Heavy Industries’ steam turbines and IHI’s boilers.

 Morocco’s electric power market is growing rapidly, and the country is planning to improve power infrastructure including renewable power generation. Through its Buyer’s Credit Insurance, NEXI will continue to provide financial support to Japanese business in Morocco and contribute to their export success.