$441m in investment has been secured by the Moroccan Agency for Solar Energy (MANSEN) from a consortium of European lenders for the construction of its Ouarzazate solar complex.
The European Investment Bank (EIB), the Development Agency for France (AFD) and the German ministries for economic cooperation & development and environment, nature conservation & nuclear safety put forward the finance, which represents over 50 per cent of the total project cost.
Phase I of the construction includes development of a parabolic-trough concentrated solar power (CSP) plant with 125-160 MW generation capacity and 3 hours of minimum energy storage capacity.
The project is the first to be developed under the Moroccan Solar Plan and the Mediterranean Solar Plan, seeking to enhance renewable energy capacity by 20GW within 2020, reports Energy Business Review.
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