IFC commits €100 million to OCP Group for 400MW Moroccan PV

Facebook
Twitter
LinkedIn
Reddit
Email
This is the second investment the IFC has made in OPC Group this year. Image: Unsplash

The International Financing Corporation (IFC) has signed a deal with Moroccan state-owned phosphate mining and fertiliser producer OCP Group to partially finance 400MW worth of solar PV.

Split across two sites and due to be paired with up to 100MWh of battery energy storage, the 400MW will provide power to OCP Group’s operations in the mining towns of Benguerir and Khouribga, the homes of the largest phosphate reserves on earth.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The IFC – the private sector arm of the World Bank – will invest €100 million (US$106 million) into the projects through a green loan, just under a third of the total €360 million required. This deal builds on an initial €100 million that the IFC loaned to OCP Group in April this year for 202MWp of Moroccan solar. As with the capacity from April, construction will be handled by OCP Green Energy, the phosphate company’s renewables generation subsidiary.

The IFC said that the project would be the first large-scale solar-plus-storage project in Morocco and the largest such project in North Africa.

“Today’s agreement is a major milestone towards our target of using 100% renewable energy in our fertiliser production by 2027”, said OCP Group chairman and CEO Mostafa Terrab. “Our deepening collaboration with IFC reflects our alignment on the urgency of addressing the global challenges of food security and climate change simultaneously”.

Morocco has high solar irradiance and an abundance of suitable land for PV deployments. The state-owned Moroccan Agency for Sustainable Energy opened a 400MW solar-plus-storage tender earlier this year for the third phase of the Noor Midelt project, which will ultimately boast 1.6GW capacity upon completion. The first phase was developed by Middle-Eastern energy giant Masdar.

Regarding overseas investment into Morocco’s solar market, PV Tech Premium recently published a feature examining the possibility of transferring power from North Africa to Europe, an idea that has already seen some progress following the EU’s funding for a 600MW transmission line between Tunisia and Italy.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

July 1, 2025
A five-year research initiative is underway in Australia to test the viability of floating solar systems on irrigation dams.
June 30, 2025
Voting on the US tax reconciliation bill is expected to begin in the Senate today, following a draft published on Friday that hit clean energy tax credits hard.
June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 27, 2025
The UK government has decided it will not sign a Contract for Difference (CfD) with Xlinks for the 11.5GW Morroco-UK interconnector project.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 27, 2025
Statkraft has signed PPAs with Better Energy to purchase energy from two solar power plants in Poland with a total capacity of 64GWh.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece