World Bank approves 125-mln-USD financing for Morocco solar projects
RABAT, June 12 (Xinhua) -- The World Bank has approved 125 million U.S. dollars in financing support to two solar power projects in Morocco, local media reported Tuesday.
The two projects, Noor-Midelt I and II plants, will have a total capacity of 600 and 800 megawatts, respectively, the financial daily L'Economiste reported.
This financing includes 25 million dollars from the Clean Technology Fund, which is administered by the World Bank.
"This is yet another step toward a promising clean energy future for Morocco," said Marie Francoise Marie-Nelly, World Bank country director for the Maghreb.
The Noor-Midelt power complex could seal Morocco's position as the region's pioneer in renewable energy.
The Moroccan Agency for Solar Energy shortlisted five companies to take part in the bidding for the first phase of the Noor-Midelt solar power complex in June last year.
Morocco aims to produce 52 percent of its electricity through renewable energy by 2030.