1 Gigawatt Hydro-Wind Power Project Planned in Morocco Will Double Nation's Capacity
A massive new renewable energy project is being planned in Morocco that will combine hydropower and wind power in one single location — a world's first, at least at this scale. The 1 gigawatt project will double the existing hydropower capacity of Morocco.
Green Prophet reports:
The total cost of the hybrid wind and hydropower project will be $2.16 billion. As well as the African Development Bank [which is investing $329 million in the project], other investors are expected to want in on such a revolutionary idea, in a nation that has moved to the forefront in renewable development. As well as making the $329 million investment using its own money, the African Development Bank will also earmark an additional $150 million for the project from the Clean Technology Fund (CTF) which it helps to finance with other lenders.
Morocco has quite admirable renewable energy goals: 10% of electricity by next year, and 42% of electricity from solar power by 2020.