World Bank to fund wind and solar projects in Morocco and Jordan

By Editor

Share

World Bank to fund wind and solar projects in Morocco and Jordan

Greentech Lead Middle East: The International Finance
Corp (IFC), a part of World Bank, is planning to grant renewable-energy project
funding for Morocco and Jordan. The IFC is studying funds for wind and solar
technologies for both countries.

Both countries plan to reduce their dependence on
imported energy and seek to meet increasing demand without adding to emissions.
Morocco is developing a plan for 2,000 MW of solar capacity by 2020. Jordan
faces fuel-supply constraints. The country recently suffered disruptions in
natural gas deliveries from Egypt amid pipeline attacks.

Investments in clean sources of power account for 60
percent of the IFC’s electricity generation business after the unit invested
$3.8 billion in 90 projects, or about 4,500 MW, in four years, according to a
report in Bloomberg.

IFC has provided loans to the 60.4 MW Karadzhalovo solar
project in Bulgaria, the 68 MW Zorlu wind project in Pakistan and the 228 MW
Cernavoda and Pestera wind parks in Romania.

[email protected]

Latest News

Related