Major European support for first large solar project in North Africa
November 2012, the European Investment Bank (EIB), the Development Agency for France (AFD), KfW Entwicklungsbank (KfW) and the Moroccan Energy Agency (MASEN) signed a loan grant of € 300m. The loan would cover more than 50% of the total cost of the first phase of the “Ouarzazate solar power complex”project. The project will be the first under the Moroccan Solar Plan and is expected to raise the plant’s generation capacity to 500 megawatts by 2020.
