ONEE - NOOR ATLAS (EIB-20160665)

Countries
  • Morocco
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
OFFICE NATIONAL DE L'ELECTRICITE ET DE L'EAU POTABLE
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 154.19 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 135 million
Converted using 2018-08-10 exchange rate.
Project Cost (USD)
$ 342.64 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 300 million
Converted using 2018-08-10 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Apr 4, 2022

Disclosed by Bank Aug 10, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
<div class="searchable description offset1" lang="EN">Le projet NOOR ATLAS a pour objectif la construction de jusqu'&agrave; huit centrales solaires photovoltaiques, &agrave; l'est et au sud du royaume du Maroc, totalisant une puissance install&eacute;e de 200MW. L'op&eacute;ration est la seconde phase du &laquo;Programme Solaire Photovoltaique&raquo; mis en &oelig;uvre par l'Office national de l'&eacute;lectricit&eacute; et de l'eau potable (ONEE) pour d&eacute;velopper l'&eacute;nergie solaire dans les territoires recul&eacute;s au Maroc, conform&eacute;ment &agrave; l'objectif du pays d'augmenter la part de l'&eacute;nergie renouvelable jusqu'&agrave; 52% en 2030 et conform&eacute;ment au &laquo;Plan solaire marocain&raquo; (MSP). Le projet est en coh&eacute;rence avec le "Plan d'Action Maroc pour la mise en oeuvre du statut avanc&eacute; (2013-2017)" de l'Union europ&eacute;enne (UE).</div> <div class="searchable objectives offset1" lang="EN"><br /> <div class="searchable description offset1" lang="EN">The NOOR ATLAS project aims to build up to eight solar photovoltaic plants in the east and south of the Kingdom of Morocco, with an installed capacity of 200MW. The operation is the second phase of the "Solar Photovoltaic Program" implemented by the National Office of Electricity and Potable Water (ONEE) to develop solar energy in remote areas in Morocco, in accordance with the country's goal of increasing the share of renewable energy up to 52% in 2030 and in accordance with the "Moroccan Solar Plan" (MSP).&nbsp;The project is consistent with the "Morocco Action Plan for the Implementation of the Advanced Status (2013-2017)" of the&nbsp;European Union (EU).</div> </div>
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Office National De L'electricite Et De L'eau Potable produces, transmits, and distributes electricity in Morocco. It produces energy through wind parks and hydroelectric power plants. The company was founded in 1963 and is based in Casablanca, Morocco. Office National De L'electricite Et De L'eau Potable operates as a subsidiary of Copropar SA.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

*Contact information not provided at the time of disclosure*

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form, via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

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