Morocco, second in the world after the U.S.A. for attracting investment in renewable energy

The Moroccan Ministry of Energy and Mines announced that bidding will soon open for a 300MW wind project and for the third phase of the Ouarzazate solar plant of 300MW.    Morocco’s goal is that 42% of electricity production will come from renewable sources by 2020. It has also set a target to produce 1,000 MW of wind power.

Morocco reached an agreement with the German company KfW Entwicklungsbank  on a loan of €654 million to finance part of the construction of two 300 MW solar plants whose total cost amounts to €1,700 million.

Source: Al-Sharq al-Awsat and Zawya, 01/11/13