Orrick Paris E&I Team in Marrakesh for Sustainable Energy Finance Signing During COP22

11.28.16

Orrick’s Paris Project Finance team advised a pool of international finance institutions – including the French Agency for Development (AFD), the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) – in connection with the €35 million loan facilities to Moroccan banking group Banque Centrale Populaire (BCP) to finance sustainable energy projects in Morocco.

The signing took place during the recent “COP22” United Nations Climate Change Conference held this month in Marrakesh, where representatives from nearly 200 countries gathered and pledged to move forward on the implementation of the Paris Agreement.

This finance line is the latest under the Morocco Sustainable Energy Financing Facility, a comprehensive initiative for supporting energy efficiency and small-scale renewable investments in Morocco through financial institutions.

BCP and its subsidiaries will use the funds to help Moroccan small and medium-sized enterprises (SMEs) and corporates in the commercial and industrial sectors, including commercial construction and energy service companies, to finance, implement and invest in renewable/sustainable energy projects within the country.

The Orrick team included Simon Ratledge and Jonathan Desplanque.