$50m Loan For Morocco’s Hybrid Solar Projects

Morocco’s Midelt Phase I CSP & PV Hybrid Model Solar Power Plants With Up To 800 MW Get $50 Million Support
06:53 PM (Beijing Time) - 06. July 2017
Vue_aeienne_Noor_I-Ouarzazate-2016.large

A hybrid solar power plant with concentrated solar power (CSP) and PV in Morocco has received approval for $50 million financing support from CIF, AfDB and the World Bank. Pictured here is an aerial view of the Noor Ouarzazate I CSP plant. (Photo Credit: Masen)

Key Takeaways

  • Morocco’s Midelt Phase I solar power project including CSP and PV technologies has been granted $25 million loan from Climate Investment Fund’s Clean Technology Fund
  • AfDB and the World Bank are supporting the project with an additional $25 million
  • The capacities will be divided between CSP plants of 150 to 190 MW each, with PV component between 150 and 210 MW
  • Total capacity of the first phase will be 300 to 400 MW for each of the two projects

A hybrid solar power plant with concentrated solar power (CSP) and PV in Morocco has received approval for a $25 million loan from the Climate Investment Fund’s Clean Technology Fund (CIF CTF). The project is called Midelt Phase I. The African Development Bank (AfDB) and the World Bank are supporting the project with an additional $25 million in CTF resources, stated a press release from AfDB.

The project will comprise two CSP plants each with 150 to 190 MW capacity and a minimum of 5 hours of thermal storage. As for PV, the envisaged installed capacity of the PV component could reach approximately 150 to 210 MW. This will take the entire cumulative capacity of each of the two plants to 300 to 400 MW. Total capacity of the first phase will be 600 to 800 MW.

In June 2017, Moroccan Agency for Solar Energy (MASEN) selected five consortia to develop these projects (see Morocco Shortlists Five Consortia For Noor I). MASEN and private sector sponsors have signed a public private partnership for these projects with a build-own-operate and transfer model. Masen will buy all the electricity generated from these projects, which will be built and operated by a special purpose company.

Plant capacity will be awarded to different bidders. AfDB and CTF support is aimed at helping to drive down capital cost of the project, along with lowering the levelized cost of electricity.

Morocco’s path-changing Noor CSP program under CTF, for which we serve as implementing agency, has been a critical element of that shift,” said Anthony Nyong, AfDB’s Director, Climate Change and Green Growth.

This project, which will be modelled on the Noor operational and financial structure, is supposed to increase the development of solar energy and further help diversify the country’s energy mix and enhance its energy security. “We believe that the project can serve as a model for other countries in the region and beyond,” said Nyong,

Morocco is aiming to achieve 52% of its installed power capacity to come from renewables by 2030, with solar contributing 20%. The solar plan should create about 30,000 jobs.

 

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani