The World Bank finances a clean energy project in Morocco with $265 million

WASHINGTON, July 2, 2017 (WAM) – The Board of Executive Directors of the World Bank approved, on Wednesday, financing worth $265 million to support the “Ihsahsa” project for pumped hydroelectric energy storage in Morocco.

The World Bank said in a statement that the “Ihsaa” project in northern Morocco will play the role of a giant rechargeable “battery” for the national electricity grid, explaining that during periods of high renewable energy generation – during times of sunshine or wind blowing – the station can pump water into an overhead tank, then empty this water to flow through turbines, and electricity is generated precisely at a time when demand for it is intense.

This 300 MW plant will enable Morocco to integrate at least an additional gigawatt of solar and wind energy into its national grid, helping to stimulate about $1 billion in private sector investment.

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