WB to invest USD 5.5bn in MENA solar energy projects.

By bne IntelliNews December 15, 2009
The World Bank (WB) plans to invest more than USD 5.5bn in solar energy projects in the MENA region, the bank's Clean Technology Fund (CTF) said in a statement. CTF approved financing of USD 750mn and plans to mobilize an additional USD 4.8bn from other sources to accelerate global deployment of Concentrated Solar Power (CSP). The lender's investment will be in five countries in the region namely; Algeria , Egypt , Jordan , Morocco and Tunisia . The eleven power plants are due to be operational in around three and a half years. The projects are expected to reduce greenhouse gas emissions in the region by around 1.7mn tons of carbon dioxide per year.

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