In the presence of the Moroccan King, Mohammed VI, the first sod was cut in Ouarzazate for the construction of a fourth power plant – NOORo IV – inside the world's largest solar power complex. KfW signed the loan agreement for EUR 60 million for the construction of NOORo IV back in November 2016 in the presence of the Federal Minister for Economic Cooperation and Development, Gerd Müller, at the United Nations Climate Change Conference in Marrakech. After commissioning, which will likely take place in the beginning of 2018, the photovoltaic plant will enable annual savings of at least 56,000 tonnes in CO2 emissions. When all four power plants are combined, CO2 emissions will be reduced by around 800,000 tonnes every year. The Noor complex is scheduled to be completed by 2019 and supply a total of 580 megawatts of output power from three solar thermal energy plants and one photovoltaic plant.
"This makes Morocco a pioneer in Africa when it comes to transitioning to renewable sources of energy. Morocco is an example of how economic growth and development can be combined with climate protection", said Dr Norbert Kloppenburg, Member of the Executive Board of KfW Group.
Since 2009, Morocco has been working to implement its ambitious energy targets: by 2030, the percentage of installed electricity generation capacity based on renewable energies is planned to reach 52 per cent. In addition to solar energy, the country is also focusing on wind and water power. Moreover, Morocco also heavily participates in international endeavours to protect the climate, including those that take place in the context of the international Climate Partnership for implementing national climate contributions over which Morocco presides together with Germany.
On behalf of the Federal Ministry for Economic Cooperation and Development (BMZ) and the Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB), KfW is supporting the construction of the solar power complex in southern Morocco with a total of EUR 829 million. The planned total costs are approximately EUR 2.2 billion. At the start of 2016, the first power plant, NOORo I, was commissioned for the solar energy complex; NOORo II and III are still under construction. Germany plays a significant role in the project, which Morocco is using to implement its energy transition.
In addition, the European Union and the French development agency, AfD, together with the European Investment Bank (EIB) have pledged financing.
More information on the KfW Development Bank is available at: www.kfw-entwicklungsbank.de