The Noor-Ouarzazate solar complex stands out as a remarkable achievement in the field of solar energy, according to the report "The Renewable Energy Investment Case for Africa."
It is one of the largest concentrated solar power (CSP) plants in the world, with a total capacity of 582 MW, including 510 MW from CSP and 72 MW from photovoltaic (PV) technologies, according to the report, released in Addis Ababa on the sidelines of the 2nd Climate Summit (September 8–10).
The report also stresses that this project is the cornerstone of Morocco’s national strategy to raise the share of renewable energy to 52% of its capacity by 2030 and ensure its energy independence.
This is a highly ambitious goal, the same source emphasizes, recalling that the project was developed under a public-private partnership (PPP) with the Moroccan Agency for Sustainable Energy (MASEN) as the lead developer, alongside a consortium headed by the private company ACWA Power.
The project relies on a blended financing model, supported by major international institutions such as the World Bank, the African Development Bank (AfDB), and the European Investment Bank (EIB), which provided concessional loans that reduced the overall cost of electricity generated by the complex by 10 to 25%.
According to the same source, this cost reduction mitigated project risks and ensured the financial viability of long-term power purchase agreements.
MASEN played a key role in streamlining the development process, the report points out, adding that the solar complex has had significant environmental and economic impacts.
Noor-Ouarzazate supplies electricity to over 1.1 million Moroccans, contributing about 5% of the national electricity supply, the report specifies, noting that the project created thousands of jobs during the construction phase and stimulated local economic development.
