Themed sector 2016
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:
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
Population:6.6 million (2014)
Inflation:2.8 % (2014)
Jordan, officially the Hashemite Kingdom of Jordan, is a kingdom on the East Bank of the River Jordan. The country borders Saudi Arabia to the east and south-east, Iraq to the north-east, Syria to the north and the West Bank and Israel to the west, sharing control of the Dead Sea. Jordan’s only port is at its south-western tip, at the Gulf of Aqaba, which is shared with Israel, Egypt, and Saudi Arabia. Over half of Jordan is covered by the Arabian Desert. However, the western part of Jordan is arable land and forests. Jordan is part of the Fertile Crescent. The capital city is Amman.
Modern Jordan is predominantly urbanized. Jordan is classified as a country of “high human development” by the 2010 Human Development Report. Furthermore, The Kingdom has been classified as an emerging market with a free market economy by the CIA World Fact Book. Jordan is also considered to be an “upper middle income” economy.
Population:33.9 million (2014)
Inflation:0.4 % (2014)
Over the past decade, Morocco’s macroeconomic, political, and regulatory stability have helped the country achieve strong economic growth. Rising standards of living combined with rapid population growth have driven substantial increases in Morocco’s energy needs. Yet the fiscal impact of maintaining, much less expanding, Morocco’s energy supply, is tremendous as the country imports 95% of its primary energy supply. Every year Morocco spends upwards of US$80 billion on imported oil, making it particularly vulnerable to external market shocks and further constraining the government’s ability to pursue other development objectives.
Rather than foregoing these opportunities, the Moroccan government has designed an investment plan that will tap US$150 million in financing from the Clean Technology Fund (CTF) to reach financial closure for investments that will capitalize on Morocco’s world-class renewable energy resources to accelerate Morocco’s shift to a cleaner economy. CTF funds will be deployed to effectively buy down the cost of low carbon growth in Morocco, and will mobilize an additional US$2.5 billion from the Hassan II Fund, Kingdom of Saudi Arabia, United Arab Emirates, African Development Bank (AfDB), and World Bank Group (IBRD, IFC). CTF co-financed projects are expected to achieve 33.8 MtCO2e cumulative GHG emissions savings and reductions.
Population:89.6 million (2014)
Inflation:10.1 % (2014)
Egypt is among the 11 fastest growing greenhouse gas (GHG) emitting countries in the world; projections warn of a 300% increase in GHG emissions by 2017. Driving the steady rise in the energy intensity of Egypt’s economy are the country’s economic growth and expanding urban population, compounded by generous fossil fuel subsidies that encourage inefficient energy use. The power generation and transport sectors are among the most carbon intensive, and are at the center of a number of Egypt’s most pressing economic, environmental, and health challenges. Over 50% of Egypt’s primary energy supply is satisfied by oil and oil MtCO2eproducts, and the power generation and transport sectors account for 42% and 21% of Egypt’s total GHG emissions, respectively.
Tapping US$300 million in financing from the Clean Technology Fund (CTF), Egypt’s investment plan will support investments in Egypt’s tremendous wind energy potential and aims to facilitate a modal shift to low carbon mass transport by developing new bus and rail infrastructure. The investment plan, created under the leadership of the government in consultation with the World Bank Group (IBRD, IFC), African Development Bank (AfDB), and key Egyptian stakeholders, will mobilize an additional US$1.82 billion to accelerate Egypt’s progress toward economically effective, equitable, low carbon development.