Platinum Power Partners with CFHEC to Build Hydropower Project
Renewable energy investor Platinum Power, a unit of US private equity firm Brookstone Partners, has teamed up with China's CFHEC to build a USD 300 million hydropower plant in central Morocco. Platinum Power's chief executive Omar Belmamoun said that CFHEC, which is a subsidiary of state-owned construction firm CCCC, will partner with the Moroccan group to finance, build and run the 108-megawatt plant.
The two companies have also agreed to partner on renewable energy projects elsewhere in Africa, where they both see growing demand for clean energy, Platinum Power said in a statement.
Platinum Power is currently developing hydropower projects with a capacity of 325 MW in Morocco, 365 MW in Cameroon and 300 MW in Ivory Coast.
By the end of last year, Morocco had installed 1,215 MW of wind energy, 1,770 MW of hydropower and 700 MW of solar capacity, according to official figures.
Source : Strategic Research Institute