The development of Moroccan Solar Plan continues with the ongoing development of phase II and III of the solar complex in Ouarzazate.
Agreements were signed by Moroccan Agency for Solar Energy (MASEN), the KfW Bankengruppe , the World Bank, the African Development Bank (AfDB), the Clean Technology Fund (Clean Technology Fund), the European Investment Bank (EIB) and the French Development Agency (AFD) for the funding of the second phase of this project with regards to Noor II and III.
According to MASEN, Noor I and Noor II projects under independent power production (IPP) will employ the solar thermal technology to parabolic trench, with the purpose of having a production capacity of 200 MW with storage. Noor III on the other hand will bring in a new sub solar thermal technology named “CSP Tour”, which will have an aggregate generation capacity of more or less 150 MW with storage
The contract signed with the German bank KfW pertains to the financing of Noor II with an amount of 330 million euro and Noor III for 324 million euro. The agreement inked with the World Bank is about the funding of CSP projects for Noor Ouarzazate complex with a budget of $ 400 million.
An additional budget of 119 million euro was agreed with World Bank for the clean technologies. ADB agreed in financing the development of Noor II for 72 million euro and Noor III for 28 million euro. ADB will also finance the implementation of clean technology for Noor II and Noor III with 69 million euro and 50 million euro respectively. AFD will cover the development costs of Noor III for a value of 50 million euro while EIB will finance finance Noor II for 100 million euro and Noor III for 50 million euro.
All these funds will be an addition to the 90 million euro donation of European Union where 40 million euro will go for Noor II and 50 million euro will be allocated for Noor III.
The fourth phase of Noor will be developed later by MASEN in line with its objective to develop at least 2,000 MW capacity by 2020. The plan is projected to create more investments and prevent emissions of greenhouse gases from 2020.
Follow me at twitter : https://twitter.com/AdgecoGroup