Cuatrecasas advises Acciona on Casablanca desalination financing
Deal News | Jul 04, 2025 | Iberian Lawyer
Cuatrecasas has advised Acciona, a key member of the Al Baidaa Desalination Company consortium, on securing financing for the construction of a significant desalination plant in Casablanca, Morocco. This plant, set to be the world's largest powered entirely by renewable energy, will be built through a public-private partnership with Morocco's Office National de l'Electricité et de l'Eau Potable (ONEE). The financing structure comprises 80% debt and 20% equity and involves numerous financial institutions, highlighting robust support for the initiative. The plant will leverage reverse osmosis technology powered by wind energy to meet the water needs of Casablanca and neighboring regions, aiming to support 7.5 million people and agricultural irrigation. Its construction, led by Acciona, is expected to conclude by Q3 2028, with operations and maintenance contracts extending for 27 years.
Sectors
- Renewable Energy
- Infrastructure
- Public Utilities
- Finance
Geography
- Morocco – The location of the Casablanca desalination project and key target region for water supply.
- Spain – Headquarters of Acciona, the main company involved in the project.
Industry
- Renewable Energy – The plant will be entirely powered by renewable energy sourced from wind, supporting sustainable infrastructure.
- Infrastructure – Involves the construction of a major desalination plant to address water scarcity issues in Morocco.
- Public Utilities – Relates to water supply and desalination, critical for municipal and agricultural needs.
- Finance – Includes financing arrangements and advisory roles for a large-scale public-private partnership.
Financials
- 80% – Portion of the project's financing provided by debt.
- 20% – Portion of the project's financing provided by equity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cuatrecasas | Legal Advisor | Company | Advised Acciona on securing the financing for the Casablanca desalination project. |
| Acciona | Construction and Operation | Company | A member of the Al Baidaa Desalination Company consortium, leading construction, operation, and maintenance of the plant. |
| Office National de l'Electricité et de l'Eau Potable (ONEE) | Public Sector Partner | Government | The Moroccan government agency involved in the public-private partnership contract for the project. |
| Al Baidaa Desalination Company | Consortium | Company | Consortium leading the desalination project includes Acciona, Green of Africa, and AfriquiaGaz. |
| Green of Africa | Consortium Partner | Company | Part of the consortium developing the desalination plant. |
| AfriquiaGaz | Consortium Partner | Company | Part of the consortium developing the desalination plant. |
| FIEM through ICO | Financial Institution | Company | Involved in the financing of the project. |
| Societe Generale | Debt Provider | Company | One of the financial institutions providing debt for the project. |
| Attijariwafa Bank | Debt Provider | Company | One of the financial institutions providing debt for the project. |
| Banque Centrale Populaire | Debt Provider | Company | One of the financial institutions providing debt for the project. |
| Bank of Africa | Debt Provider | Company | One of the financial institutions providing debt for the project. |
| Caixa | Debt Provider | Company | One of the financial institutions providing debt for the project. |
| COFIDES | Debt Provider | Company | One of the financial institutions providing debt for the project. |
| Bir Anzarane wind farm | Power Supplier | Company | Provides renewable energy to power the desalination plant. |