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FINANCIAL NEWS
Morocco to launch tender for 800MW solar plants by 2017
15 Nov 2016
(MENAFN) Morocco aims to set up tenders for the building of two solar plants with a capacity of up to 800MW by the beginning of the coming year.
The country expanded a 2009 solar and wind power initiative and now aims to generate 10 GW by 2030 rather than 4 GW by 2020.
Under the new plan, 52 percent of the country’s energy needs would become renewable sources, up from almost 28 percent of installed capacity now.
Meanwhile, the North African kingdom has secured USD765mn loan from German state-owned bank KFW to finance some of the cost of the two plants.
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