The International Financing Corporation has signed a deal with Moroccan state-owned phosphate mining and fertiliser producer OCP Group to partially finance 400MW worth of solar PV.
As Europe is increasing its solar PV capacity to reach its goal in the REPowerEU plan, countries in the bloc are accelerating solar PV installation. But some EU countries also look at the solar potential in North Africa, as the region boasts better solar irradiance and longer sunshine hours.
The International Finance Corporation (IFC) and phosphate-based fertiliser producer OCP Group have partnered to develop 202MWp of solar PV projects in Morocco.
A new initiative, the Africa Renewable Energy Manufacturing Initiative (AREMI), has been launched with the aim to scale up renewable energy manufacturing capabilities in Africa.
The proliferation of solar requires PV projects to adapt to their grid surroundings, which increasingly entails connecting alongside adjacent technologies, be it energy storage, other renewables or green hydrogen. Amid the growing threat of curtailment, Jules Scully looks at the rise of the ‘solar-plus’ market and the financial models underpinning it.
