CTF allocates US$5.5 billion in investments for CSP in MENA region
The Clean Technology Fund (CTF) has given CSP development in the Middle East and North Africa regions a boost with the approval of financing of US$750 million, which will pave the way for an additional US$4.85 billion from other sources. The fund will provide investment in CSP programs for Algeria, Egypt, Jordan, Morocco, and Tunisia, with a planned 900MW of installed CSP plants by 2020. CTF, a multi-donor trust fund, is an organisation that invests in deployment of low-carbon technologies. The investment will facilitate: Deployment of about 1GW of CSP generation capacity; The support of associated transmission infrastructure in the Maghreb and Mashreq regions for domestic supply and exports, scaling up CSP in the region; Encouragement of public and private investments for CSP power plants. The investment will enable the construction of 11 commercial-scale power plants over a 3-5 year timeframe. “This is a most strategic and significant initiative for MENA countries,” said Shamshad Ak...