Home / Finance & Economy / EIB unblocks € 129 million for Noor Atlas Solar Program

EIB unblocks € 129 million for Noor Atlas Solar Program

The European Investment Bank (EIB) has approved a loan of € 129 million in the form of a loan for the implementation of the Noor Atlas program. The initiative will allow the construction of 7 photovoltaic plants distributed throughout the country with a total capacity of approximately 200 MW.

The plants will supply electricity to about 350,000 Moroccan households. The total cost of setting them up has been estimated at € 272 million. The program will benefit from the financial support of the German Development Bank, KfW, which has committed to support up to € 130 million, through a subsidized loan. He will also be able to count on a donation promised by the European Commission.

The Noor Atlas project aims at securing the power supply of the regions at the ends of the power grids. They are typically powered by 60 kV lines and located at distances away from electrical transformer centers. The power plants will be located in the localities of Tata, Tan Tan, Outat El Haj, Ain Beni Mathar, Boudnib, Bouanane and Enjil.

In January 2019, the government launched the pre-selection procedure for the companies to carry out the work. It should start in 2020.

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