Sound Energy, the transition energy company, has signed an exclusive term sheet with Gaia Energy, a specialist in renewable energy, for the development of up to 270 MW of installed capacity of PV solar power at various locations in Morocco.
Taking advantage of the liberalised medium voltage ('MV') grid in Morocco, the Company and Gaia propose to enter into a Joint Venture and aim to construct solar power sites at ten or more locations close to MV substations and therefore customers. Gaia has commenced feasibility studies at a number of sites. Such studies include measurement and modelling of solar irradiation, land access studies, grid connection and capacity assessments. The next steps, upon formalisation of the JV, are to carry out the formal applications for grid capacity, other regulatory requirements, and negotiation of power purchase agreements ('PPAs').
Further announcements will be made, as appropriate, in due course.
Source: Sound Energy
