Acwa consortium had the lowest bid for the Noor II and Abengoa consortium had the lowest bid for the Noor III. According to Paddy Padmanathan, the president and chief executive of Acwa, its combined offer was about 11% cent lower than the competing consortium.
The concentrated solar power (CSP) projects will contribute to the Moroccan Solar Energy Agency (MASEN) Solar Plan to develop 2,000 MW of solar power by 2020. The proposed project will support MASEN’s implementation of the second 350 MW phase of the Noor Solar Complex, which is expected to have a minimum capacity of 500 MW.
This second phase consists of 2 distinct plants:
The project involves the design, financing, construction, commissioning, operation and maintenance of the new facilities.
The total investment for both projects is estimated at €1.7 billion (US$2 billion).
This project will be funded through US$400 million from the World Bank and US$119 million from the Bank administered Clean Technology Fund. Other contributors toward the project are the African Development Bank, European Investment Bank, l’Agence Française de Développement, Kreditanstalt fuer Wiederaufbau, and the European Commission.
The next phase of the Noor Solar Complex, Noor IV, will involve the development of a 50 MW plant that will use solar photovoltaic technology. The targeted capacity of the complex will then be reached through a mix of complementary solar technologies, being CSP and PV.