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Released October 08, 2014 | JOHANNESBURG
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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--The World Bank (Washington D.C.) has made a $519 million loan available to Morocco to partially fund two solar power plants, with a total capacity of 350 megawatts (MW). The projects will form the next phases of the country's 500-MW Ouarzazate solar project.
Details of the successful tenders for the construction of the two southern Morocco plants, one of at least 200 MW and one of at least 100 MW, are due shortly. The Moroccan Solar Energy Agency (Masen) (Casablanca) reported that Abengoa (NASDAQ:ABGB) (Seville, Spain), GDF Suez's (OTC:GDFZY) (Paris, France) International Power, and ACWA Power (Riyadh, Saudi Arabia) had been pre-selected for the 200-MW Noor II tender. These three groups, plus a consortium led by Electricite de France (OTC:ECIFY) (EDF) (Paris, France), also were pre-qualified for the 100-MW Noor III tender. Noor II will employ parabolic mirrors, and Noor III will use solar tower technology.
The estimated investment in the overall Ouarzazate project is about $2.1 billion. The World Bank is loaning $400 million directly, and its clean technology fund will make an additional $119 million available.
The largest loan for the projects comes from the German state-owned bank KfW (Frankfurt), with $824 million. The balance of project financing will be taken up by the African Development Bank (AfDB), the European Commission and European Investment Bank.
Noor I through Noor IV make up the overall $2.1 billion investment. The 160-MW Noor I has the largest investment, at about $1 billion.
The first 160-MW plant in the Ouarzazate area is under construction by ACWA Power and is part of the government's initiative to generate 2,000 MW of solar power by 2020, which represents about 38% of the country's currently installed generation capacity.
For related information, see September 30, 2014, article - More than 12 Gigawatts in Middle East, Africa Solar PV Project Pipeline.
View Project Report - 300018695 300112418 300112468 300130530
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Details of the successful tenders for the construction of the two southern Morocco plants, one of at least 200 MW and one of at least 100 MW, are due shortly. The Moroccan Solar Energy Agency (Masen) (Casablanca) reported that Abengoa (NASDAQ:ABGB) (Seville, Spain), GDF Suez's (OTC:GDFZY) (Paris, France) International Power, and ACWA Power (Riyadh, Saudi Arabia) had been pre-selected for the 200-MW Noor II tender. These three groups, plus a consortium led by Electricite de France (OTC:ECIFY) (EDF) (Paris, France), also were pre-qualified for the 100-MW Noor III tender. Noor II will employ parabolic mirrors, and Noor III will use solar tower technology.
The estimated investment in the overall Ouarzazate project is about $2.1 billion. The World Bank is loaning $400 million directly, and its clean technology fund will make an additional $119 million available.
The largest loan for the projects comes from the German state-owned bank KfW (Frankfurt), with $824 million. The balance of project financing will be taken up by the African Development Bank (AfDB), the European Commission and European Investment Bank.
Noor I through Noor IV make up the overall $2.1 billion investment. The 160-MW Noor I has the largest investment, at about $1 billion.
The first 160-MW plant in the Ouarzazate area is under construction by ACWA Power and is part of the government's initiative to generate 2,000 MW of solar power by 2020, which represents about 38% of the country's currently installed generation capacity.
For related information, see September 30, 2014, article - More than 12 Gigawatts in Middle East, Africa Solar PV Project Pipeline.
View Project Report - 300018695 300112418 300112468 300130530
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
