Morocco raises fund for advanced phases of Noor Ourzazate solar project

The Moroccan Agency for Solar Energy (Masen) has raised $2 billion (1.7 billion euros) to finance the next phase of solar energy projects Noor 2 and Noor 3 in Ouarzazate.

The project is according to government’s strategy of using concentrated solar power technology.

The two solar plants Noor 2 and Noor 3 will have a capacity of 200 MW and 150 MW each and the construction is expected to begin within eight to ten weeks.

The construction of 160 MW Noor 1 first phase project is going on at an estimated 600 million euros, which will begin operation in October 2015.

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Noor 1 will be the North African country’s first solar energy plant. The third phase of the solar park, Noor 4 will also be at Ouarzazate.

It is anticipated that the Noor-Ouarzazate Concentrated Solar Power Project alone can supply power to 1.1 million Moroccans by 2018.

This project will be funded through US$400 million from the World Bank and US$119 million from the Bank administered Clean Technology Fund.

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Other funds are being provided by international organization including the World Bank, the European Investment Bank and the German Development Bank as part of a multi-billion-euro bid for Morocco’s renewable development.

The expanded solar plant is expected to reduce carbon emission by 700,000 tons per year.

A call for tenders had attracted various firms from France, Spain and Saudi Arabia and the winner will be announced within days.

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Morocco stands at the forefront of climate-friendly policies in the region and is the Middle East’s largest fossil fuel importer, generating over 97 percent of its energy.

Morocco is also planning a series of wind farms along its Atlantic coast in a bid to raise renewable energy production to 42 percent of its total power supply.

Sabeena Wahid
[email protected]