110 Days
Source:
Sky News
World Bank approves Morocco clean energy funding
The Board of Executive Directors of the World Bank has approved $265 million in funding for the pumped hydro energy storage project in northern Morocco. This project will serve as a large energy reservoir and enhance the capabilities of the national grid. It will help integrate at least an additional gigawatt of solar and wind energy, and is expected to create around 820 direct jobs during the construction phase. The project will also reduce carbon dioxide emissions by approximately 1.7 million tons annually. This comes after the World Bank's decision to lower the target of allocating 45% of its lending to climate-related projects, while the climate action plan continues.
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