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MENAFN - 05/02/2014

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(MENAFN) The Moroccan foreign minister said that the country has hired foreign investors to fund a USD9 billion solar power project, Saudi Gazette reported.

There are several investors, including the World Bank and the European Union, who refused to fund the project because some of its plants are to be set in the disputed Western Sahara.

The Moroccan Foreign Minister said: "That is their problem. We have no financing problems. We have several (investors); there are Japanese, Chinese, Gulf countries."

The North African nation is aiming to increase renewable power to reach 20 percent of its supply in 10 years, up from the current 8 percent.

 






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