The Middle East and North Africa will be one of the keenly watched emerging solar power markets this year, as a large number of tenders representing huge capacities are expected to be launched by several countries there. According to a report released by the Middle East Solar Industry Association last … [continued]
Expanding on its solar power base with a target to significantly increase the share of renewable energy and reduce dependence on fossil fuels, Morocco has floated a tender for a large-scale solar power project. The Moroccan Agency for Solar Energy (MASEN) has invited bids from prospective project developers to set … [continued]
Saudi Arabia’s ACWA Power has reported progress on the financial front of two landmark solar power projects in Morocco. A consortium led by ACWA Power announced that it has closed debt funding worth $2 billion for two concentrated solar power (CSP) projects in Morocco. ACWA Power will work with Spanish … [continued]
Morocco’s ambitious Noor-Quarzazate project has received financial backing from the European Union. The European Union (EU) has granted a $47.8 million loan to the Moroccan Agency for Solar Energy (MASEN) for the 150 MW Noor III concentrated solar power project. According to media reports, the agreement was signed by EU Commissioner for … [continued]
The Desertec project continues to move forward, with the signing of a new memorandum of understanding between the Moroccan government and the Desertec Foundation. This new agreement strengthens the current plans to build a massive series of solar power plants in the northern part of Morocco which will supply … [continued]
Morocco’s been able to steer a moderate, largely peaceful course since the Arab Spring, one that includes a strong commitment to realizing the goals of an ambitious national renewable energy / energy efficiency strategy. In a CleanTechnica interview, the director of Morocco’s new renewable energy agency laid out in more detail the aims, underpinnings, and means by which Morocco is working to realize its renewable energy and energy efficiency goals. […]
The African Development Bank and South African state-owned electric utility Eskom signed a $365 million loan package that will help fund two historic renewable energy projects. The AfDB also pledged $498 million for Moroccan solar power projects. Africa, along with all nations around the world, stands at an energy crossroads. The AfDB loans will provide a substantive boost as South Africa and Morocco attempt to transition to clean energy economies that may serve as a model across the continent and beyond.
The World Bank Group is providing $300 million in loans to co-finance Ouarzazate, a 500 MW Concentrated Solar Power Plant that would be one of the largest in the world upon completion. The World Bank Group’s IBRD and Clean Technology Fund are members of a public-private partnership with the Moroccan Agency for Solar Energy that also includes includes four international lenders from Europe and Africa.
