New solar thermal power plant being built in Ouarzazate under Moroccan Solar Plan
The project is financing the construction of a solar thermal power plant to support the Moroccan government as it implements its Solar Plan. Launched in 2009, the plan creates the framework for a series of major solar thermal power plant projects that will generate a total of 2,000 MW solar electricity by 2020. This will safeguard the country's energy supply while simultaneously avoiding the emission of up to 3.7 million tonnes of CO2 per annum. The Moroccan Agency for Solar Energy (MASEN) was founded as the executing agency for these projects. The new solar tower plant is being built at the Ouarzazate concentrated solar power (CSP) complex. When finished, it will have an installed capacity of between 100 and 150 MW, and a storage capacity of at least three full load hours. The complex's total capacity will eventually reach at least 500 MW. Thanks to IKI funding, the project is able to provide low-interest loans totalling EUR 324 million. The power plant is also receiving funding from the European Union (EU), the French Development Bank AFD (under the direction of the European Investment Bank), the African Development Bank (AfDB), the Clean Technology Fund (CTF) and the World Bank.
KfW Banking Group
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