The Desertec Foundation, an international collaboration between politicians, businesses and scientists to develop sustainable energy resources, will continue to aid the Moroccan government in establishing solar power in the country. A memorandum was signed between the Desertec Foundation and the Moroccan Agency for the Development of Renewable Energy and Energy Efficiency (ADEREE) to bolster its current plans to build a huge series of solar power plants in northern Morocco. The arrays will generate electricity for domestic markets and for Europe.
Read more: Morocco and the DESERTEC Foundation Move Ahead With Plans to Build Massive Solar Arrays in the North of the Country | Inhabitat - Sustainable Design Innovation, Eco Architecture, Green Building
Ventures Africa's Board approved a EUR168 million ($213.6 million) and $100 million Clean Technology Fund concessionary loan to finance the first phase of the Ouarzazate solar power station in Morocco. The power station is designed to pioneer the development of concentrated solar power technology in the country, beginning with the 1st phase of the Ouarzazate complex.
Morocco, being the largest energy importer in North Africa, is making concerted efforts to reduce its reliance on imported fossil fuels. Renewable energy is an attractive proposition as Morocco has almost complete dependence on imported energy carriers. Morocco is already spending over USD 3billion a year on fuel and electricity imports and is experiencing power demand growth of 6.5 per cent a year.
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