The World Bank Group's role in Financing renewable energy in Morocco: A case study of The Noor Ouarzazate project.

Abstract

This paper aims to highlight the strategic role played by the World Bank Group in supporting and financing renewable energy projects in Morocco with a specific focus on the Nour Ouarzazate Solar Complex.

The realization of such large-scale projects would not have been possible without the mobilization of substantial financial resources, where the World Bank Group played a pivotal role in providing both direct funding and support through strategic partnerships with other international financial institutions. This multilateral financial backing has contributed to accelerating project implementation, enhancing investment attractiveness, and ensuring both economic and environmental sustainability.

The Noor Ouarzazate project is more than just a power generation facility; it represents a strategic development initiative that has bolstered Morocco's energy independence. The complex reached a total production capacity of approximately 580 MW and generated over 10,000 job opportunities, with local labor exceeding 70% during certain project phases

Furthermore, the number of electricity beneficiaries surpassed 1.1 million people. Environmentally, the project has contributed to climate protection by reducing CO2 emissions by more than 760,000 tons annually, establishing it as a pioneering model for renewable energy projects across the Arab world and Africa.