The German Ministries for the Environment and for the Cooperation and Economic Development will support the construction of the largest solar energy complex in the world, in the region of Ouarzazate in Morocco, providing a loan of 654 million euro. In this way, the German government promotes international action on climate and the expansion of renewable energy in North Africa.
Once built, it is estimated that the solar complex will save approximately 800,000 tons of CO2 per year. At the same time, the project will contribute significantly to the creation of the Solar Plan of Morocco, which is expected to provide 2 GW of solar power by 2020.
On behalf of the two Ministries, the banking group KfW signed loan agreements for the construction of two solar power plants, which will have an electric power of 350 MW, which corresponds to the power of a conventional medium.
This will help Morocco to put a big step towards a sustainable, more climate-friendly energy supply.
The Federal Environment Minister Barbara Hendricks commented: "Our support demonstrates that Germany is taking seriously its responsibility to the global climate. The transformation of energy systems in the world is the key to an effective climate policy. For developing countries like Morocco, which depends heavily on fossil fuels, the expansion of renewable energy is a prerequisite for sustainable development. With its ambitious solar plan, Morocco is therefore an example for other countries".