Morocco - Noor Solar Power Project Additional Financing (WB-P164288)

Countries
  • Morocco
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 8, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Morocco
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 2,257.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Jul 10, 2018

Disclosed by Bank Jul 1, 2017


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Project Description

The objective of the project is to i) increase installed capacity (megawatt), and ii) electricity output (megawatt-hour), especially peak hours, of the Noor-Quarzazate Solar Complex. The additional financing will expand the scope of of the original project to support development of Morocco's 'Noor' Solar Plan. This will include supporting the development of the Noor-Midelt Solar Power Project in addition to the Noor-Quarzazete Concentrated Solar Power Project. The name of the parent Project will be changed to Noor Solar Power Project; and the closing date will be extended to December 31, 2022, to accomodate developing and constructing the Noor-Midelt Solar Power Project. The restructuring will also reallocate funds from Component 2 of the original project to a new component in the restructured project.

Investment Description
  • World Bank (WB)
Contact Information

Borrower:
Name: MASEN
Contact: Mustapha Bakkoury
Title: Managing Director
Tel: 212537754747
Email: masen@masen.ma 


Implementing Agency:
Name: MASEN
Contact: Mustapha Bakkoury
Title: Managing Director
Tel: 212537754747
Email: masen@masen.ma 

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.