Chinese firm to invest $2bn in Morocco solar projects
DUBAI, September 10, 2014
Shanghai Electric, a state-run Chinese firm, will invest more than $2 billion in solar power generation projects across Morocco over a period of five years, a report said.
The investments are part of a $16.5 billion commitment by the Chinese company in seven Arab countries, added the Zawya Projects News, citing the Arabic daily Hespress.
"There are plans to construct five power solar stations, with a combined generation capacity of 3.5 GW, in various parts of the country as part of a strategy to cut energy imports," said the paper.
"These projects will turn Morocco into one of the most important clean energy producers in 2020," the daily was quoted in the report.