CAPE TOWN, 24 June 2011 – African efforts on climate action received a welcome boost today with approval of a ground-breaking renewable energy project in Morocco that should be a game-changer for solar power at large-scale.
The 125 megawatt concentrated solar power plant at Ouarzazate is the first project in a regional plan that will eventually triple today’s global investments in concentrated solar power. The regional plan is funded to the tune of $200 million in Climate Investment Funds (CIF) and African Development Bank (AfDB) and World Bank co-financing.
The green light for the Moroccan project came on the eve of the CIF Partnership Forum, which opened today in Cape Town and is hosted this year by the African Development Bank.
New money for the CIF to scale up renewable energy in low income countries was also announced by Norway earlier in the week. The 150 million krones pledge (equal to $US 27 million) builds on recent commitments of new financial support from Australia and Korea.
"We need to accelerate the transition to clean energy while ensuring the supply vital to growth and opportunity and this is a core priority of the Government of South Africa," said Hon. Pravin Gordhan, Minister of Finance, South Africa, in opening remarks at the Forum. "Indeed, South Africa became one of the developing countries to lead, making a voluntary pledge to reduce emissions by 34 percent by 2020." He urged the Forum to be robust in its interrogation of ideas and initiatives and develop solutions that engage all stakeholders so that the interests of society as a whole are taken forward. More >>>
Location: Cayman Islands