World Bank Promises $5.5B For MENA Solar Power

Dec 11 2009 | 9:53am ET

The World Bank’s Clean Technology Fund has approved financing of $750 million, which it says will mobilize an additional $4.85 billion in co-financing, both public and private, to speed development of concentrated solar power (CSP) in five countries across the Middle East and North Africa (MENA).

The fund will invest in CSP programs in Algeria, Egypt, Jordan, Morocco and Tunisia. The CTF is a multi-donor trust fund to facilitate deployment of low-carbon technologies at scale.

The CTF-approved investment plan will support the deployment of about 1 gigawatt of CSP generation capacity, thereby tripling worldwide CSP capacity. The plan will also support transmission infrastructure in the Maghreb and Mashreq for domestic supply and exports, as part of Mediterranean grid enhancement.

The World Bank says the proposed 1GW deployment through 11 commercial-scale power plants over three to five years will provide the critical mass of investments necessary to attract significant private sector interest, benefit from economies of scale to reduce cost, result in learning in diverse operating conditions and manage risk.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note