Morocco: Noor Ouarzazate Concentrated Solar Power Complex
This series showcases how the Multilateral Development Banks’ collaboration supports the development and implementation of infrastructure investment. This support comes in the form of public sector loans, private sector finance, sector and transaction advice, guarantees, and output-based aid.
The Noor II and III Concentrated Solar Power Plants of Ourzazate signal progress in Morocco’s commitment to increase its share of renewable energy generation from its current rate of 28 percent to 52 percent by 2030. Both projects are part of the Noor Concentrated Solar Power Complex, which will generate power for more than 1.1 million Moroccans by 2018 and reduce greenhouse gas emissions by approximately 690,000 tons of CO2 equivalent per year. The African Development Bank (AfDB), the European Investment Bank (EIB), the World Bank’s International Bank for Reconstruction and Development (IBRD), the Kreditanstalt für Wiederaufbau (KFW), the French Development Agency (AFD), the Union and the Clean Technology Fund (CTF), and other development finance institutions have jointly provided $1.6 billion in loan/grant financing for these projects.
