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$785m boost to North African green energy

by Adam Lane on May 6, 2012

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Renewable projects in North Africa set to benefit from EBRD investment. (GETTY IMAGES

Managing director of the energy sector at the European Bank for Reconstruction and Development (EBRD) Riccardo Puliti has told Dow Jones that the EBRD is set to invest US $785 million into renewable projects in North Africa and Jordan annually for the next few years. Puliti has said that projects in Egypt, Tunisia, Morocco and Jordan would see investment, with a number of projects in rural Morocco already in the preliminary stages of assessment.

Dow Jones has reported that the EBRD is keen to join with local partners in the countries, together with larger companies such as Enel Green Power and Iberdrola SA.

The EBRD is already involved in the sector in the MENA region, having recently announced a $177 million loan to Enerjisa for the construction of a new wind farm project in the west of Turkey. Enerjisa has said that the site will consist of 52 wind turbines, with a total output capacity of 142.5 MW. The project is scheduled for completion during the second half of this year and will be Turkey's largest wind farm to date. The EBRD has said that supporting the renewable sector is amongst its key priorities in Turkey.

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