morocco solar plant secures €300 million loan
Last Updated : GMT 03:09:26
Arab Today, arab today
Arab Today, arab today

German and France invest in project

Morocco solar plant secures €300 million loan

Arab Today, arab today

Arab Today, arab today Morocco solar plant secures €300 million loan

Morocco solar plant
Marrakesh - Arabstoday

Morocco solar plant Morocco\'s pioneering 160-megawatt solar power plant took a step forward on Monday, securing European financing agreements worth 300 million euros ($385 million), or nearly half of the project\'s cost. The European Investment Bank (EIB), Germany\'s KfW bank and the French Development Agency signed the financing accords with Morocco\'s solar energy agency MASEN in Marrakesh, to support the first phase of the Ouarzazate solar complex, a joint statement said.
The announcement comes shortly after two German firms, Bosch and Siemens, said they were quitting the ambitious Desertec project, to build solar power plants across North Africa and the Middle East, dealing a blow to Europe\'s clean energy plans.
Morocco is aiming to become a world-class renewable energy producer, and is eyeing the chance to export clean electricity to neighbouring Europe.
European financial support for the Ouarzazate project following Monday\'s agreements amounts to 345 million euros, the EIB said, including grants worth 45 million euros already agreed to by the European Union and Germany.
The desert power plant will also be financed by the World Bank, which agreed to a $300-million loan last year, and the African Development Bank.
A Saudi-led consortium won the contract in September to build the first 160-megawatt phase of the Ouarzazate plant, which is expected to cost nearly $1 billion and is slated for completion in late 2014.
A second phase is expected to raise the plant\'s generation capacity to 500 megawatts by 2020.
It is the first in a series of vast solar energy projects planned in the north African kingdom.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

morocco solar plant secures €300 million loan morocco solar plant secures €300 million loan

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

morocco solar plant secures €300 million loan morocco solar plant secures €300 million loan

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday