World Bank funds solar projects in North Africa

Solar energy in desertsThe World Bank via its Clean Technology Fund is investing $750 million (522 million euros) in eleven concentrating solar plants in the Middle East and North Africa region. This is due to spur additional investments worth $4.85 billion.

These projects are due to add nearly a gigawatt of capacity to local grids within three to five years in Algeria, Egypt, Jordan, Morocco and Tunisia and would triple the current concentrated solar power (CSP) capacity.

I wonder if this could be a significant boost to the DESERTEC project as it is exactly about building renewable energy facilities in these countries.

In any case this is fantastic news for this promising technology. Indeed, a recent study showed that it could provide up to a quarter of global electricity by 2050

Edouard

Edouard is a sustainability and energy professional committed to bringing our societies to a carbon neutral future. He has been writing on related topics on this very blog since 2007.

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