World Bank Co-Finances Morocco's Ouarzazate 500 MW Concentrated Solar Thermal Power

The World Bank approved $297 million in loans to Morocco to support construction and operation of Morocco’s 500-megawatt (MW) Ouarzazate Concentrated Solar Power (CSP) plant, one of several large scale solar power projects in various stages of planning or development across the solar energy rich Middle East-North Africa region.

Upon completion, the Ouarzazate parabolic trough CSP plant would be one of the largest CSP plants in the world. A group of seven international lenders has committed $1.435 billion dollars to build and develop the project. Ouarzazate is seen as a key milestone for Morocco’s national Solar Power Plan, which was launched in 2009 with the goal of deploying 2000 MW of solar power generation capacity by 2020.