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

October 8, 2025
Australia's NEM achieved a new minimum operational demand record of 9,666MW, marking a 4% decrease from the previous record.
October 8, 2025
Frontier Energy plans to expand its Waroona Renewable Energy Project into a renewable energy precinct by 2031, targeting up to 1GW solar.
October 7, 2025
Econergy will acquire 100% stake in the 155MW Ratesti solar project in Romania, further expanding its European renewable energy portfolio.
October 7, 2025
Juniper Green Energy through its subsidiary Juniper Green Sigma Eight has signed a 70MW power purchase agreement with renewable energy giant Tata Power. 
October 7, 2025
Solar PV will account for almost 80% of the 4.6TW of new renewable power expected to be added by 2030, according to the International Energy Agency (IEA).
October 7, 2025
OpenSolar has secured US$13.1 million in equity financing from technology investors, including Titanium Ventures, Google and others.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK