The World Bank has approved additional financing of $125 million for the development of Noor Midelt I and II solar power plants in Morocco. These funds include $25 million in financial support from the Clean Technology Fund (CTF).
Built on the combined technologies of solar thermodynamics and PV, these plants will have a total capacity of 600 MW. The combination allows for a reduced the cost in construction. The combinations also allow for production of electricity after sunset thanks to thermodynamics.
"It is time to start a new stage in the development of solar in Morocco. Noor Midelt's solar complex positions the country as a regional leader in this type of energy," said Marie Françoise Marie-Nelly, World Bank Director for the Maghreb.
The Noor Midelt complex upon completion will have a total capacity of 800 MW. The World Bank has planned to inject a total of $400 million.