EBRD Approves €45 Million Loan for Morocco’s 800 MW Noor Midelt Solar Project

The European Bank for Reconstruction and Development (EBRD) has authorized a loan of 45 million euros for the development of the Noor II hybrid power plant. This is a multi-currency loan intended to finance the construction and operation of the 800 MW Noor Midelt I facility, according to an official source.

In detail, the loan is granted to the project company, which is 75% owned by the consortium composed of EDF Renewables (35%), Masdar (30%) and Green of Africa (10%), and 25% by Masen. And it is the Emirati Masdar (Abu Dhabi Future Energy Company), a global specialist in renewable energies, that guarantees the EBRD loan.

This hybrid solar project combines concentrated solar power (CSP) and photovoltaic (PV) solar energy with 5 hours of storage capacity. The hybridization of these technologies is a "world first", it is specified.