World Bank invests $265M in Moroccan clean energy

The International Bank has approved a $265 million financing for the "Ifhassa" pumped hydroelectric storage project in northern Morocco, aimed at enhancing the integration of renewable energy sources and improving the reliability of the national power grid. The project is expected to contribute to integrating over one gigawatt of solar and wind energy, provide greater flexibility in demand management, and reduce carbon dioxide emissions by approximately 1.7 million tons annually. "Ifhassa" is among the largest pumped hydro storage projects in Africa and seeks to support Morocco’s strategy to increase the share of renewable energy to 52% of its electrical capacity.

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