Ouarzazate solar project receives over US$200 million in funding from AfDB

Facebook
Twitter
LinkedIn
Reddit
Email

The African Development Bank Group (AfDB) has approved two loans, totaling €176 million (US$216 million) for the second phase of the Ouarzazate solar project in Morocco.

The first loan of €100 million (US$123 million) came from the AfDB’s own resources, while the second loan, equaling out to US$119 million, comes from the Clean Technology Fund.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The second phase of the Ouarzazate project will see the development of two new power stations, totaling a generation capacity of 350MW, and an average production of over 1,100 GWh annually.

Alex Rugamba, Director of the AfDB Energy, Environment and Climate Change Department, said: “The project is one of the innovative developments in the energy sector supported by the Bank, based on the technology used and the financial arrangements with the support of the Climate Investment Funds, namely a public-private partnership supported by several donors. The Bank’s participation in this second phase will support its position as a leading partner in the development of Morocco and strengthen its dominant role in combatting the effects of climate change.”

The project is a part of the Moroccan Solar Energy Programme (NOOR), which looks to produce a minimum capacity of 2,000MW by 2020 within the country. Currently, Morocco relies on external sources for 95% of its energy needs.

This is the second time that the AfDB has funded part of the Ouarzazate project, as the group partnered with the Clean Technologies Fund to put forward grants of €100 million and US$100 million in 2012 as part of the development of the project’s first phase.

Work began on the first phase of the project in 2013 with the construction of a 160MW power station, which is slated to begin operations in 2015.

Read Next

September 16, 2025
Sunotec has launched Sunotec Nordic to spearhead solar and hybrid renewable project development across the Nordic region.
September 16, 2025
The SPPC has launched a request for qualifications for 5.3GW of new renewable power capacity, of which solar will account for 3.1GW.
September 16, 2025
Chinese polysilicon producer GCL-Tech has entered into a strategic financing agreement with Infini Capital, a globally renowned investment institution backed by a Middle Eastern sovereign wealth fund.
Premium
September 16, 2025
At RE+, industry leaders pointed to the resilience of the US solar sector, despite challenges brought by the 'One Big, Beautiful Bill' Act.
September 16, 2025
IB Solar is investing INR30 billion (US$340 million) in a 4GW TOPCon solar cell and module manufacturing plant in Jewar, Uttar Pradesh.
September 16, 2025
Two of the major European solar trade associations, the European Solar Manufacturing Council (ESMC) and SolarPower Europe (SPE), have called for EU policymakers to take measures supporting European solar manufacturing.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines