Over $5b Funding For Concentrated Solar Power in MENA

The Energy Storage World Forum website is reporting that over 1.1 gigawatts of concentrated solar power (CSP) capacity will be installed in parts of North Africa and the Middle East.

These Climate Investment Funds (CIF) first endorsed the 2009 plan for 895 megawatts of CSP to be installed, but the plan has since been modified after the Arab Spring uprisings.

In addition to the US$660 million that the CIF’s Clean Technology Fund (CTF) is providing, private funding and other donors are adding a whopping US$5 billion.

Out of the $660 million, Morocco will receive the lion’s share of $218 million to install 300 megawatts of CSP capacity. Other countries that are receiving funding are Egypt, Algeria, Jordan, Libya, and Tunisia.

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