Morocco has reached financial close and signed power purchase agreements for a 305-megawatt solar programme, deepening its shift toward decentralised renewable energy and offering a financing model that could influence projects across Africa.
- Morocco has secured financing and signed power purchase agreements for its 305-megawatt Noor Atlas solar programme.
- The project will deliver six photovoltaic plants across the country, with power expected on the grid by 2027.
- It reflects a shift from mega solar complexes to smaller, decentralised projects aimed at improving grid resilience.
- The blended financing structure could serve as a template for funding renewable energy projects across Africa.
The Noor Atlas programme consists of six photovoltaic plants to be built in Jerada, Errachidia, Figuig, Boulemane, Tata and Tan-Tan. Construction has begun, with electricity expected to flow into the national grid by July 2027.
The Moroccan Agency for Sustainable Energy (Masen) is leading the development, while the National Office of Electricity and Drinking Water (ONEE) will purchase the electricity under long-term power contracts that underpin the project’s bankability.
Blended financing reduces risk for investors
The programme secured about 2.8 billion dirhams in financing through a mix of concessional loans and commercial debt. Germany’s KfW development bank and the European Investment Bank are providing development finance, while Bank of Africa arranged commercial lending.
Such hybrid structures are becoming more common in African energy projects, as governments and developers seek to attract private capital while shielding projects from currency volatility and high borrowing costs that have historically undermined infrastructure deals.
Noor Atlas represents a strategic shift from Morocco’s earlier focus on large solar complexes such as Noor Ouarzazate toward smaller plants spread across multiple regions.
Distributing generation across six provinces is expected to improve grid stability, cut transmission losses and bring renewable electricity closer to underserved areas, reducing reliance on a handful of centralised facilities.
Strengthening energy security and climate targets
Morocco imports most of its fossil fuels, making energy security a central policy priority.
Expanding solar capacity is intended to reduce exposure to global fuel price shocks while helping the country meet its climate commitments and long-term renewable energy targets.
Once completed, the Noor Atlas plants will add 305MW of solar capacity to the grid, supporting Morocco’s goal of sourcing a majority of its electricity from renewable energy within the decade.
Construction will be carried out by consortia that include Moroccan and European firms, a structure designed to encourage technology transfer and develop domestic expertise in solar engineering, installation and maintenance.
The government expects the programme to generate jobs during construction and strengthen local manufacturing and service providers linked to the renewable energy sector.
