France funds Morocco's solar plan with €100.3m
The French Agency for Development (AFD) decided, on Thursday, to give Morocco an appropriation of € 100.3 million in order to "support the implementation of its solar energy plan and the construction of a solar power plant in Ouarzazate."
The sum is composed of a loan of €100 million and a donation of €300,000.
The AFD underlined the importance of the plan, launched in 2009 with the aim of raising the capacity of power production from solar energy to a minimum of 2000 MW by 2020.
In this regard, it said that while Morocco imports 97% of its energy needs, "which puts a strain on its balance of trade and its budget," it "has, however, one of the most abundant solar resource in the world."