Energy turnaround in Morocco

Frankfurt (ots) -

- KfW kicks off first solar-thermal power plant in Ouarzazate
- 530,000 people will receive environmentally friendly energy

Today KfW Entwicklungsbank, on behalf of the German Federal
Ministry for Economic Cooperation and Development (BMZ), signed a
loan agreement with the Moroccan Agency for Solar Energy (MASEN), as
project company, amounting to EUR 100 million for the first large
solar-thermal power plant in Morocco. The agreement was signed in the
presence of the Moroccan king. This first power plant will have a
capacity of 160 megawatts. Additional plants to be built at the
Ouarzazate site will increase the total installed capacity to 500
megawatts.

"By constructing this power plant Morocco is providing a
breakthrough for a low-carbon and climate-friendly future technology,
while simultaneously reducing the country's high dependence on energy
imports. The ambitious energy plans of many North African countries
towards a supply system based on renewable energies are now another
step closer to being realised," said Dr Norbert Kloppenburg, member
of the Executive Board of KfW Bankengruppe.

The investment costs for this initial phase amount to about EUR
750 million. Along with the German Federal Government, project
participants comprise the European Commission, the European
Investment Bank (EIB), the French development bank AFD (Agence
Française de Développement), together with the World Bank and the
African Development Bank. The German contribution - BMZ, BMU (Federal
Ministry for the Environment, Nature Conservation and Nuclear Safety)
and KfW - amounts to EUR 115 million (100 million BMZ/KfW, 15 million
BMU). To further expand the power plant park the German side has
pledged a much larger commitment. The power plant will generate
enough electricity for about 530,000 people. Compared to conventional
electricity generation the project will avoid approx. 310,000 tonnes
of CO2 emissions annually.

The support from Germany is making an important contribution to
expanding renewable energies in Morocco. Just as the support helped
finance several wind farms to harness the tremendous wind potential,
it is now pioneering efforts to tap the solar-thermal potential.

Press Contact:
KfW, Palmengartenstraße 5-9, 60325 Frankfurt
Kommunikation (KOM), Dr. Charis Pöthig,
Phone: 069 7431 4683, Fax: 069 7431 3266,
E-Mail: presse@kfw.de, Internet: www.kfw.de/newsroom