Solar Gets Key Financing Boost, But Much More Needed

Solar projects in Morocco and Jordan received a massive boost this week with the World Bank and EBRD approving $550mn in funds. This marks a significant expansion of previous funding commitments, but the IEA says more is needed.

Global financial institutions have approved funding for two landmark solar power projects that will provide much-needed electricity to two MENA region countries with limited hydrocarbon resources. The World Bank will provide $519mn to build two concentrated solar power (CSP) plants as part of Morocco’s Noor complex at Ouarzazate, while the European Bank for Reconstruction and Development (EBRD) is lending Jordan $25mn for its first solar photovoltaic (PV) plant.


DON'T HAVE AN ACCOUNT?


NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?

By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.

UPGRADE