November 17, 2011 / 6:52 PM / 8 years ago

World Bank OKs $297 million for Morocco solar plant

WASHINGTON (Reuters) - The World Bank on Thursday approved loans to Morocco totaling $297 million to help finance the first phase of a 500 megawatt solar power plant, among the largest in the world.

The Ouarzazate concentrated solar power plant is the first in Morocco’s $9 billion solar power program, vital for a country that has no oil or gas but has an abundance of sun.

The World Bank said $200 million of the loan will come from its fund that lends to middle-income countries, and the other $97 million from a World Bank Clean Technology Fund.

Reporting by Lesley Wroughton; Editing by Leslie Adler

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below