New EU Envelope of 465 million dirhams for Moroccan Solar Plan

Morocco and the European Union concluded a new agreement for the financing of the third complex of the Ouarzazate solar plant.

On the occasion of his visit, the European Commissioner for Climate Action and Energy, Miguel Arias Cañete, signed May 7, 2015 with Mustapha Bakkoury, president of the Moroccan Agency for Solar Energy ( MASEN), a new commitment in the pursuit of the Moroccan Solar Plan.

This effort of the European Union and the signature of a new Investment Facility will allow the construction of the third thermo-solar power plant solar tower concentration of a capacity of approximately 150MW. The complex is well NOOR III has a budget of over 465 million dirhams in bringing the outstanding 1.235 billion dirhams.

As a reminder, in the first phase of this complex NOOR I of Ouarzazate, over 330 million dirhams were awarded in Morocco. For the realization of complex NOOR II, another funding over 440 million dirhams were also granted the Kingdom always through the “Neighbourhood Investment Facility”.

The Moroccan solar program aims to develop 2,000 MW in 2020, equivalent to almost 40% of current energy production in Morocco.