中文  |  ENGLISH

Home > Market > MENA > Here

CIF $945 million investing concentrated solar power in Morocco, South Africa and Chile

2018.04.23     From: CSP Focus光略咨询


Concentrated solar power (CSP) holds vast potential due to its ability to provide reliable, utility-scale power even when the sun is not shining. CSP is such a promising technology that the International Energy Agency estimates that up to 11 percent of the world’s electricity generation in 2050 could come from CSP.


High technology costs and a limited number of CSP demonstration projects deter investors, especially in higher-risk emerging markets. To prove the economic and technological viability of CSP, trailblazing projects are needed across the world’s most sun-drenched regions. 



Established in 2008, the $8.1 billion Climate Investment Funds (CIF) is devoted to delivering investments at scale to empower climate-smart transformation in sectors. 


A total of $945 million from the CIF’s Clean Technology Fund (CTF)—expected to attract an additional $8.4 billion in co-fi¬nancing—is supporting early public and private sector CSP projects in Chile, South Africa, and the Middle East and North Africa (MENA) region. Projected generation capacity is 1.2 GW, or more than one-fourth of the current global CSP capacity. The CIF’s CSP investments are intended to establish a record of performance for the technology, thereby lowering perceived risk and reducing future project costs for private sector CSP investors and developers.


As a leader in driving global investments in CSP, CIF is to endorse and join the upcoming CSP Focus MENA 2018 event in Marrakech, Morocco during June 27-28, which will be the can’t missing gathering for CSP industry players watching Middle East & North Africa region.SAVE USD 400 by registering before April 26th, 2018.


THE $5.5 BILLION CLEAN TECHNOLOGY FUND (CTF) is a funding window of the Climate Investment Funds (CIF). CTF concessional financing, channeled to countries through partner multilateral development banks (MDBs), is boosting investor confidence and attracting significant co-financing from other sources. 


DECREASING COSTS AND INCREASING COMPETITION IN MOROCCO CSP MARKET


In Morocco, the African Development Bank (AfDB) and World Bank have jointly supported the 510 MW Noor concentrated solar power (CSP) complex, one of the world’s largest. It is Morocco’s first utility scale solar energy complex and a critical step of the Moroccan Solar Energy Program, which aims to install 2 GW of solar power by 2020.


Together, these MDBs have channeled $435 million from the CTF alongside their own investment of $980 million. Independent analysis concludes that the low-cost debt is already driving down the cost of CSP in Morocco by 25 percent for Noor I and an additional 10 percent for Noor II and III, thus reducing the government subsidy required to bridge the affordability gap for CSP.


Free Report: Morocco NOOR Solar Plan-by MASEN


Specifically, structured by the Moroccan Agency for Sustainable Energy (MASEN) as a public-private partnership, the first phase of the project (Noor I) benefitted from low-cost debt provided by the CTF ($197 million) and other international financial institutions, which reduced project costs by about 25 percent compared to financing available from commercial banks in the market. This enabled strong market competition during the bidding cycle resulting in a winning bid from ACWA Power of $0.18 per kWh that was 25 percent lower than initial cost projections. This is helping to reduce strain on public finances by lowering the yearly subsidy that the Moroccan government contributes from $60 million to $20 million. The CTF’s contribution of $238 million for the 350 MW Noor II and III has since helped to generate further cost reductions. In 2015, ACWA Power won the competitive bid to construct the two new CSP plants offering an average power tariff of about $0.16/kWh, roughly 10 percent below Noor I.


Relevant CSP Conference:CSP Focus MENA 2018(June 27-28,Marrakeck Morocco)

Leave your thoughts here

Free Reports

See more+
  • Applicants in China 2nd Batch of CSP Demonstration Projects

    Sheet1: Projects Applying for China 2nd Batch of CSP DemonstrationsSheet2: Projects Located in Hami Applying for China 2nd Batch of CSP Demonstrations

  • CONCENTRATED SOLAR POWER IN THE MENA REGION

    1. CONCENTRATED SOLAR POWERIN THE MENA REGION 1.1 An introduction to ConcentratedSolar Power (CSP)2. HOW IT WORKS?3. CSP PROJECTSIN THE MENA REGION 3.1 Shams 1 Project 3.2 Noor Ouarzazate & Noor Midelt4. CHALLENGES TO DEPLOYMENT 4.1 Project Costs and Supply Chain 4.2 Lack of Funding to Support R&D 4.3 Financing and Project Risk5. HOW TO OVERCOME THESE CHALLENGES?6. WHAT DOES THEFUTUR

  • Abengoa CSP Technology Experience in China Market

    1. Introduction: Abengoa at a glance2. STE Abengoa References: Main Achievements3. CSP LCOE Evolution: STE LCOE Evolution main relevant countries4. EPC cost in a STE power plant 4.1 Tower technology 4.2 Parabolic trough technology5. Specific cases and scheme for Abengoa in China 5.1 Haixi Luneng Molten Salts Tower Technology 50 MWe, Qinghai 5.2 Yumen East Town Parabolic Trough Technology 50 MW

  • Power Output Reduction Caused by Equipment Accidents —Supcon 10MW&50MW CSP Tower Plant Case Study

    ● Analysis of impacts on LCOE for STE plants ● Analysis of impact factors on production of SUPCON Delingha 10MW plant ● Plan and progress of SUPCON 50MW CSP demonstration project

Upcoming Events

See more+

Project Updates

See more+

CONTACT US

Tex:+86-21-6111 0177

Email:csp@cspfocus.cn


备案/许可证编号为:沪ICP备17051021号

Wechat public platform

Follow CSP Focus for more news