Moroccan Fertilizer Giant OCP Secures $159 Million Green Loan for Solar Power Expansion

159.2 million euros (1.7 billion dirhams). This is the "green" loan that the International Finance Corporation (IFC), a member of the World Bank Group, is granting to OCP to enable it to finance its solar projects, including the construction of four photovoltaic (PV) solar power plants, with a combined capacity of 202 megawatts near the company’s mining sites in Khouribga and Benguerir. This project, which is in line with OCP’s ambitious plan to power all of its industrial facilities with green energy by 2027, with all electricity production to come from solar, wind, hydroelectric and cogeneration sources, is defined in two stages from a capacity of 202 MW without storage, to reach 1,200 MW in the long run.

The first phase, which should be supervised by OCP Green Energy, an OCP subsidiary in charge of the group’s renewable energy projects, includes the design, installation and operation of the four power plants. As for the location of the power plants, OCP will install a 105 megawatt-peak power plant on a 168-hectare site at the Ouled Fares site in the Khouribga mining area. In parallel, the Moroccan fertilizer giant should install a peak of 30 megawatts on 52 hectares at the Foum Tizi site, located in the same area in Khouribga.