https://www.engineeringnews.co.za
Mining|Power|Solar|Storage
Mining|Power|Solar|Storage
mining|power|solar|storage

IFC loans Morocco's OCP $106m to build two solar power plants

11th October 2023

By: Reuters

  

Font size: - +

Morocco's State-owned phosphates and fertiliser producer OCP said on Tuesday it had signed an agreement with the International Finance Corporation (IFC), the World Bank's investment arm, on a €100-million ($106-million) loan to build two solar plants to increase production of low-carbon fertilisers.

The two photovoltaic plants will be located in the mining areas of Khouribga and Benguerir with a combined capacity of 400 MW and a storage capacity of up to 100 MWh, OCP said in a statement.

This green loan is the second offered by the IFC to OCP within a year after a similar €100-million loan last April to build four plants with a combined capacity of 202 MW in the same mining areas.

Last year, OCP announced an investment plan worth 130-billion dirhams ($13-billion) to fully rely on renewable energies for its fertiliser production by 2027.

In June, OCP told Reuters it plans to invest $7-billion in an ammonia plant using green hydrogen, produced from renewable fuel.

Edited by Reuters

Comments

Array

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.107 0.161s - 173pq - 2rq
Subscribe Now