The Middle East and North Africa (MENA) region holds some of the most advantageous potential for the development of Concentrated Solar Power (CSP) in the world. Countries in the region—Algeria, Egypt, Jordan, Morocco, Libya and Tunisia—are looking to take advantage of this world class potential through the use of $750 million from the Clean Technology Fund (CTF) in conjunction with large investments from other sources. The investment plan developed as part of the CTF will:
...the projected amount of private and public resources expected to be leveraged by CTF investments
- Enable the region to contribute to global climate change mitigation;
- Support deployment of about 1 gigawatt of CSP generation capacity, tripling worldwide CSP capacity;
- Support transmission infrastructure in the Maghreb and Mashreq for domestic supply and exports as part of Mediterranean grid enhancement,
- Enabling CSP scale-up through regional market integration;
- Leverage public and private investments for CSP power plants and other related projects for over $4.85 billion from sources;
- Support energy security, industrial growth and diversification, and regional integration in the MENA region.
The Investment Plan is designed around deployment of about 10–12 commercial scale power plants to be constructed over a 3–5 year time-frame. The scale of investment will attract private sector partners, result in economies of scale and cost reduction, and promote learning from diverse operating conditions.