World Bank allocates $5.5 billion for solar power in North Africa
26 August 2010
The World Bank is going to grant a package of 5.5 billion Dollars to five countries in the Middle East and North Africa (MENA) Region towards the financing of solar energy projects.
The countries concerned are Tunisia, Egypt, Jordan, Morocco, and Algeria.
The projects, which are going to generate a production capacity of 9,000 megawatts should be operational by the year 2015, according to a press release last Tuesday from the institution.
Solar energy is progressing on an exponential scale in Africa, following the example of South Africa, where Concentrix Solar, a company specialising in the construction of solar power plants, announced this week that it will be inaugurating its first solar power station in South Africa.
With a capacity of 60 kW, the power plant will go into service on 1 September 2010, and will be the first in a series of solar energy projects in the region.
A 50 MW solar power plant will shortly see the light of day in West Cape province, in the south of the country.