Thursday, December 24, 2009

World Bank Will Invest In North African Solar Projects

The sun-soaked regions of North Africa provide major opportunities for alternative energy development.

Alternative Energy News.Info reports:

"The World Bank will invest $5.5 billion for North African solar power projects. They have announced that initially World Bank will put in $750 million dollars from the Clean Technology Fund with the remaining amount will be arranged from other sources. World Bank is expecting to complete these projects by 2015. They are willing to include five countries in this project and hoping to triple world wide concentrated solar power technology (CSP) capacity. This relatively new technology uses mirrors to concentrate sunlight onto a single point, heating water to drive turbines. Construction of the 11 facilities in the project is scheduled to begin in 2011. It is expected that the North African project will generate a total of 900 MW in capacity by 2020." See full article.

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