German development bank KfW will lend Morocco EUR 400 (USD 438m) to finance the construction of the Noor Midelt concentrated solar power complex.
Federal Development Minister Gerd Muller and Mustapha Bakkoury from Morocco’s agency for solar power, signed the agreement on February 27, news agency MAP reports.
The Noor Midelt complex could accommodate up to 470 MW in capacity. At present, the plan is to develop a hybrid complex, combining concentrated solar power (CSP) with photovoltaics (PV) where CSP takes 80% to 85% of the total capacity while PV technology makes up for the remaining 15% to 20%.
KfW has already pledged to lend EUR 864 million to the different phases of the giant solar complex at Noor Ouarzazate.
The Noor solar programme covers projects in five cities: Ouarzazate, Laayoune, Boujdour, Midelt and Tata.