The European Bank for Reconstruction and Development (EBRD) and its partners are launching a $250-million funding package program for private sector clean power generation aimed at Southern and Eastern Mediterranean (SEMED) regions, including several North African countries like Morocco, Tunisia, and Egypt.
The financing is expected to stimulate private sector renewable energy generation in the countries in the region.
Contributors to the debt and equity financing framework are the Climate Investment Funds’ Clean Technology Fund (CTF) and the Global Environment Facility (GEF).
The 120-MW Khalladi wind farm in Morocco will be one of the first projects to be considered under the funding support. Signing for up to €57m, EBRD’s loan for the project is expected to happen soon.