As part of its plans, the Morocco government intends to generate energy from the sun using concentrated solar power technology.
Currently, Morocco is the Middle East’s largest energy importer, and depends on fossil fuel imports to produce more than 97% of its electricity.
The Noor-Ouarzazate project will support the Moroccan Agency for Solar Energy to finance the expansion of the country’s first utility-scale solar energy complex in order to help increase its capacity and production, particularly in peak hours.
World Bank Middle East and North Africa regional vice president Inger Andersen said: "The country is well-positioned to benefit from its head-start at a time when other regional powers are beginning to think more seriously about their own renewable energy programs."
The World Bank approved the 160MW first phase of the project in 2011 and it is presently under construction.
The new project includes the installation of solar parabolic troughs and a solar energy tower and will finance the second 350MW phase.
The expanded solar plant is estimated to reduce 700,000 tons of carbon emissions per year and contribute to energy security and energy exports as well as create new jobs.
World Bank country director for the Maghreb Simon Gray said: "Apart from creating jobs, the construction of the plant and the development of Morocco’s Solar Plan will establish a future source of reliable green energy.
"The Noor-Ouarzazate Solar Complex alone will supply power to 1.1 million Moroccans by 2018."
The project is also supported by African Development Bank, European Investment Bank, l’Agence Française de Développement, Kreditanstalt fuer Wiederaufbau, and the European Commission.
