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EU Donates €42m to Fund Morocco’s Noor III Solar Plant | Maghreb Arab Press
The EU has donated €42m to help finance the third stage of a solar power plant in Morocco:
The European Union donated, on Thursday, 465 million dirhams to Morocco to help finance Noor III solar power plant with a production capacity of 150 MW.The donation was signed by EU Commissioner for Energy and Climate Action Miguel Arias Canete and President of the Moroccan Agency for Solar Energy (MASEN) Mustapha Bakkoury.
In a statement to MAP, Bakkoury said that the donation will help fund the third phase of the Noor project in Ouarzazate adding that construction works will start in the upcoming weeks.
The EU funding reflects the trust of international investors in Morocco’s renewable energies development projects.
For his part, Canete said the EU is willing to support Morocco’s plan to develop renewables.
Morocco’s solar plan aims at producing 2000 MW by 2020 which will help annually save the equivalent of 1 million tons of oil and cut CO2 emission by 5.3 million tons annually…[Original Story, Subscription Required]