IFC (International Finance Corporation), a member of the World Bank Group that finances and provides advice for private sector ventures and projects in developing countries in partnership with the World Bank, will invest $100 billion in the Saudi group Acwa Power, present in Morocco through the solar power plant project of Ouarzazate, Leconomiste reported.
According to the aforementioned source, the IFC is studying the opportunity for collaboration with Acwa Power on this project.
The cooperation is aimed to accompany the group in its MENA projects. In fact, “the funds will support the development of the group in the Middle East and Africa,” Leconomiste said.
It is worth pointing out that the Ouarzazate project, located in the south of Morocco, has a gross generation capacity of 160 MW with 3 hours of thermal energy storage.
Reports say that the project, once fully operational, will make it the largest solar energy plan in the world.
The Moroccan Times.
