The completion of the first stage will also begin the second and third stage of the project. Once finished this power plant will be the world's largest, providing electricity for 1.1 million people in Morocco. The project would also help reduce the country's dependence on imported energy source as well as reducing carbon emission.
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Morocco will build the largest concentrated solar power in the world at Ouarzazate city. The project, alongside with hydro and wind, will help provide nearly half of Morocco's electricity requirement by 2020.
Dubai, United Arab Emirates (UAE)-based firm Abraaj Group picked up a stake in Casablanca, Morocco-based chocolate manufacturer Kool Food for an undisclosed amount to back the latter's international distribution plans.
UAE's Emirates Telecommunications Corp. (ETISALAT) would be the new owner of a portion of Vivendi SA's stake in Maroc Telecom SA.
The exclusive discussion for Etisalat’s proposal to acquire Vivendi’s stake in Maroc Telecom had been extended up to October 31.
Subject to board approval, all preparations are being done for the IPO of the Moroccan unit of the Abu Dhabi Energy Corp.
Due to free trade agreements with many nations, Morocco is set to become the next investment hub, analysts said.
Developing countries are the new hotspots for investors in renewable energy according to two studies promoted by the United Nations.
