Morocco’s Noor solar plant is set to be the world’s largest. African Business Review speaks to Adama Moussa, Power Engineer and Olivier-Joseph Breteche, Principal Country Officer at the African Development Bank (AfDB) who explore how the first part of the project was delivered, and the impact that it will have.
What role did the AfDB play in securing financing for the project?
Breteche: Since 2009, the AfDB has assisted Morocco preparing its investment plan under the Clean Technology Fund (CTF), one of the Climate Investment Funds funding windows, focusing on installing 2,000 MW of solar energy capacity by 2020 by developing the Noor Solar Complex. The Bank was responsible for channelling part of the concessional climate funds earmarked for the country’s solar energy plan. In June 2011, the CTF approved $197 million in financing for the project, including $100 million obtained through the AfDB’s own resources. AfDB was the larger financier in debt for Nooro1. The mobilisation of climate funds has had a significant impact on lowering the cost of producing electricity from the NOORo I solar power plant and has therefore improved the attractiveness of the project.
What role did the AfDB play in managing the project? Particularly, how did you […]
