Saudi Arabia’s ACWA Power has achieved financial close on two concentrated solar power (CSP) plants expected to cost $2bn combined, which will add 350MW capacity at the Noor project at Ouarzazate. Funding will be on an 80:20 debt to equity basis.

The Moroccan Agency for Solar Energy (Masen) awarded the 200MW Noor 2 and 150MW Noor 3 projects to ACWA and Spain’s Sener with a view to 2017 start-up. Masen also plans to build a 50MW solar photovoltaic (PV) unit at the site – Noor 4. (CONTINUED - 387 WORDS)