FINANCIAL NEWS

Masen Solar Power Energy issues first green bond

08 Nov 2016

(MENAFN) The Moroccan Agency for Solar Energy (Masen) has issued Morocco’s first green bond to help finance the country”s development of solar power.

Additionally, the USD118mn bond issue will help to fund three schemes that form part of the NOOR PV1 solar power project.

The schemes to be developed are Laatoune, Boujdour and Ouarzazate with total capacity of at least 170 megawatts.

The country aims to obtain 52 percent of its elect from renewable energy sources by 2030.

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