EIB agreed 150 million Euros loan for Noor 3

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December 2013 European Investment Bank (EIB) confirmed 250 million euros for for  Noor 2 solar power plant. Now, the mentioned bank has approved 150 million euros for Noor 3.

EIB agreed 150 million Euros loan for Noor 3

EIB agreed 150 million Euros loan for Noor 3

The EIB will therefore provide € 400 million to co-finance the second phase of the Ouarzazate solar project (central Noor Noor 2 and 3). This brings to 500 million euros the overall financial support provided so far by the EIB Ouarzazate solar complex (500 MW).

The Bank had indeed granted € 100 million Noor 1 project currently under construction. Recall that the commissioning of Noor 1 – with a capacity of 160 MW of solar thermal technology concentrated (CSP) parabolic trough collectors with 3 hours of heat at full power storage – is scheduled for summer 2015. Noor on 2 and 3, with a total capacity of 300 MW (2 Noor is a CSP Parabolic project of a proposed around 200 MW with storage capacity. Noor 3, he is a CSP project Tour a projected capacity ranging around 100 MW with storage as well).

The construction will start in early 2015. As we announced exclusively on October 11, the financing for the implementation of central Noor Noor 2 and 3 will be completed in December.

Overall funding for Noor, Noor 2 and 3 would be over 2.6 billion dollars, 2.3 billion negotiated with foreign donors (approximately $ 357 million expected to be raised by the Moroccan Solar Agency Masen). Note that to complete the 500 MW planned for the Ouarzazate Solar Project, a solar phase (Noor 4) 50 MW will be launched in early 2015.

The injection studies in the national transportation system are already implemented and calls for bids are being prepared. Once the tender Noor 4 launched Masen begin the bidding process for sites Midelt and Tata.

Mohamed Dekkak