World Bank to Invest in North African Solar

10 December 2009 (Last Updated December 10th, 2009 18:30)

The World Bank is to invest $5.5bn in North African solar power projects. Initial investments will be $750m from the Clean Technology Fund, with the rest coming from other sources. The project is expected to span five countries and triple worldwide concentrated solar power c

The World Bank is to invest $5.5bn in North African solar power projects.

Initial investments will be $750m from the Clean Technology Fund, with the rest coming from other sources.

The project is expected to span five countries and triple worldwide concentrated solar power capacity.

Construction of the 11 facilities for the project is expected to begin in 2011.

When complete, the project will span Algeria, Egypt, Jordan, Morocco and Tunisia. It will provide power to nations in the area as well as to Europe, where most of the production jobs are likely to be sourced.