European Investors Steer Clear from Moroccan Solar Projects in Disputed Western Sahara Territory
The North Africa Journal | Morocco has managed to raise so far about $1 billion to fund its mega solar project. Half of that money is a donation from Saudi Arabia, largely to enable Saudi companies to win contracts in Morocco.
Morocco's solar poject ambitions to generate 14% of the country's energy consumption by 2020, alongside with hydroelectricity and wind. This important effort is to reduce Morocco's dependance on crude oil. However, the $1 billion raised so far is just 10% of what Morocco needs to build a productive solar infrastructure and that's where its European partners and international funding institutions can contribute.
But Morocco insisted on installing two of the five planned sites in the disputed Western Sahara territory and everyone knows that even the least politically savvy investor will not commit resources in a place that is subject of a political feud... Continue here | Click here to subscribe | Contact us to discuss this topic