African Development Bank to provide US$265 million loan to 800MW Moroccan solar project

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
The two solar plants will be connected to the national grid and will guarantee electricity supply to more than two million Moroccans within the country. Image: African Development Bank

In conjunction with its New Deal on Energy for Africa, the African Development Bank (AfDB) has committed US$324 million in loan support for a pair of renewable projects in Africa, setting aside US$265 million for an 800MW PV and CSP hybrid project in Morocco. 

In Morocco, the Bank’s commitment will help develop the CSP project, which is comprised of two solar plants (NOORM I and NOORM II) that will have a combined generation capacity of 800MW under a public-private partnership. It is not clear how much of the capacity will be allocated to solar PV.

The two solar plants will be connected to the national grid and will guarantee electricity supply to more than two million Moroccans within the country — representing approximately 6% of the country’s population.

Akinwumi Adesina, president of the African Development Bank, said: “These approvals demonstrate once again the Bank’s leadership on renewable energy in Africa. These projects will be essential to achieving the countries’ Nationally Determined Contributions (NDCs) under the Paris Agreement. I believe this sends a strong message ahead of the One Planet Summit on Climate next week in Paris”.

The Bank also announced US$59 million loan support for a 44MW hydropower plant on the Bandama River in  Côte d’Ivoire.

The Bank’s New Deal on Energy for Africa is a partnership-driven measure with the goal of achieving universal access to energy in Africa by 2025.

Read Next

PV Tech Premium
November 9, 2021
Liam Stoker reports from the halls of COP26, where the likes of US energy secretary Jennifer Granholm and highlighted the need for an all-encompassing but just and equitable energy transition, and explores the role for solar PV.
September 26, 2021
A 10.5GW solar-plus-wind project is under development in Morocco’s Guelmim Oued Noun region, with 3.6GW of this to be exported to Great Britain.
PV Tech Premium
September 10, 2021
With inaccurate irradiation data potentially impacting profitability estimates of PV projects in Africa, calls have been made for solar players to invest in more accurate measurement tools and work together to support the commercial and industrial (C&I) sector’s growth.
August 5, 2021
Unreliable methods of calculating irradiation in Africa could slash energy savings for commercial and industrial (C&I) solar buyers and reduce investment returns for developers and investors, new research has suggested.
June 16, 2021
Berkeley Energy has raised €130 million in the first close of the Africa Renewable Energy Fund II
June 14, 2021
Mozambique-based coal operator Ncondezi Energy has announced a joint venture (JV) with South African-based NESA to target South Africa’s C&I solar and storage markets.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal