The African Development Bank (AfDB) Board has approved funding for the first phase of the Ouarzazate solar power station in Morocco, which will use concentrated solar power to spearhead growth of a national solar industry.
16 May 2012: The African Development Bank (AfDB) Board has approved a loan of €168 million along with a US$100 million loan from the Clean Technology Fund for the first phase of the Ouarzazate solar power station in Morocco.
The project, which is part of the Moroccan Solar Plan, aims to spearhead the use of concentrated solar power technology in the country. It is expected that the solar power station will be a major step in attaining Morocco’s ambition to use solar power as the backbone of clean energy production, assisting in both reducing greenhouse gas emissions and creating a local solar power industry. In the long term, it is expected the future industry will create an energy surplus for export. [AfDB Press Release] [Ouarzazate Solar Power Station Project Appraisal Report]