Saudi-led consortium wins $2bn solar power contract

The Moroccan solar energy agency (Masen) has awarded a consortium led by Saudi Arabia's ACWA Power International a $2bn contract to build two concentrated solar power (CSP) plants in Morocco.

Reuters reports that the Ouarzazate project will total 350 MW in capacity. ACWA Power is already building a 160 MW solar power plant in the first stage of the project.
Concentrated solar power
The winning consortium also includes Spain's Sener and uses parabolic mirror technology.

The plants, which are scheduled to start generating power in 2017, are part of a government plan to produce 2 GW of solar power by 2020, equivalent to about 38 per cent of Morocco's current installed power generation capacity.

To finance the plants, Morocco has secured loans of $519m from the World Bank, $654m euros from German state-owned bank KfW and the rest from the African Development Bank (AfDB), the European Commission and European Investment Bank (EIB).

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