The World Bank has approved $297 million in loans supporting the construction and operation of Morocco’s Ouarzazate CSP plant.
The 500 MW project will be one of the largest CSP plants in the world once complete. The Ouarzazate falls under the country’s national Solar Power Plan with the aim of generating 2,000 MW of solar energy by 2020. The World Bank’s loans are a part of a PPP between the Moroccan Agency for Solar Energy (MASEN) and an unnamed private partner.
Phase 1 will include the construction of the first 160 MW of CSP capacity. International lenders have joined the project including the African Development Bank (AfDB), European Investment Bank (EIB), the Agence Française de Développement (AFD), European Union Neighborhood Investment Facility, and Germany’s Kreditanstalt fur Wiederaufbau (KfW). The International Bank for Reconstruction and Development (IBRD), which lends directly to governments, is providing a $200 million loan, and its Clean Technology Fund is providing a $97 million loan.
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