African Development Bank approves loan for solar power plant

18 December 2007
The African Development Bank has approved a $217.7m loan to finance the construction of a solar-thermal power plant at Ain Beni Mathar.

The facility, approved on 17 December, supplements the $196m loan granted by the African Development Bank to the project in 2005. The total cost of the project is estimated to be $764m.

Spain’s Abengoa is building the 472-MW hybrid plant. The client is state electricity company Office Nationale de l’Electricite.

The new unit will help meet local electricity demand, which is growing at 6-8 per cent a year.

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