Investors line up for Morocco's solar project
The $9bn project includes five plants, two of them in Western Sahara
Morocco's Foreign Minister Salaheddine Mezouar has said that the country has foreign investors to fund a US $9bn solar power project, even though some European lenders have balked due to the location of some planned plants in the disputed Western Sahara.
"We have no financing problems. We have several (investors); there are Japanese, Chinese, Gulf countries," the minister was quoted as saying.
The solar project involves five plants, two of them planned in Western Sahara, that would produce a total of 2,000MW.
In September last year, the UAE provided a US $100m package of support to finance renewable energy projects in Morocco.
The money will be used to provide solar electricity generation equipment and wind energy stations in villages in remote areas that will be used to serve development projects in the country.