World Bank approves loan to finance solar project in Morocco

20 November 2011 (Last Updated November 20th, 2011 18:30)

The World Bank has approved a $297m loan for the financing of the Ouarzazate concentrated solar power (CSP) plant in Morocco.

The World Bank has approved a $297m loan for the financing of the Ouarzazate concentrated solar power (CSP) plant in Morocco.

The 500MW facility will enable the nation to generate 2,000MW of solar power capacity by 2020.

The Moroccan Agency for Solar Energy and a private partner will develop the 160MW first phase of the Ouarzazate parabolic trough plant.

The first phase is expected to reduce annual CO2 emissions by 240,000t.

The project was launched in 2009.