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Donnerstag, 14. Juni 2018

Morocco’s Noor-Midelt Hybrid Solar Complex Wins $125M in Financing

Morocco’s Noor-Midelt Hybrid Solar Complex Wins $125M in Financing

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REW_MoroccosNoorMidelt2
Noor Ouarzazate II construction. Credit: Masen
Morocco’s plans for its second concentrated solar power (CSP) complex is moving forward with a new round of financing worth US$125 million from The World Bank.
The financing, which includes US$25 million from the Clean Technology Fund, will support the development and construction of the Noor-Midelt I and II plants. The plants have a planned capacity of 600-800 MW.
The project is based on a hybrid CSP and solar PV concept.
“The design of Noor-Midelt relies on proven technologies that will be operated in a pioneering way to take advantage of the benefits of both CSP and PV technologies on a single site,” Moez Cherif, World Bank lead energy economist for the Maghreb, said in a statement.
Morocco’s first CSP complex, the 580-MW Noor-Ouarzazate, is due to be completed this year. In 2014, World Bank awarded US$400 million in financing for the Noor-Ouarzazate project.
Design and construction of the Noor-Midelt complex will be led by the Moroccan Agency for Sustainable Energy.
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