Germany to loan Morocco USD 796 million for CSP projects

Germany will loan more than EUR 654 million (USD 796 million) for the second and third phase of the Ouarzazate solar thermal project.

According to a report published by Bloomberg, the German state-owned bank, KfW, “will become the biggest lender of the 300 MW Noor II and III plants, in south-eastern Morocco”.

The project has also received loans from the World Bank (EUR 400 million); the Clean Technology Fund (EUR 238 million); the European Investment Bank (EUR 150 million); the African Development Bank (EUR 100 million) and the Agence Francaise de Développement (EUR 50 million), as stated in a press release issued by the Moroccan Agency for Solar Energy, Masen.

Construction on the two projects is expected to begin over the first semester of 2015. The first 160 MW phase, which is already under construction, is set to come online in October 2015.

RWE files a claim against Spain before the ICSID

The German utility company filed a request for arbitration against the Kingdom of Spain for loss of earnings caused by renewable energy policy changes on 23 December 2014.

The claim was presented by RWE Innogy GmbH (German) and RWE Innogy Aersa S.A.U. (Spanish) before the International Centre for Settlement of Investment Disputes (ICSID), a World Bank institution headquartered in Washington D.C.

According to a report published by the Spanish newspaper "El Pais", RWE will be represented by the law firm Allen & Overy. The company claims that Spain has “infringed the prescription provisions established in the Energy Charter Treaty”.

This is the eight demand presented by international investors before the ICSID against Spain over the regulatory changes affecting companies involved in renewable energy generation.

It follows claims from the British investment funds Eiser Infrastructure and InfraRed; the German institutional asset management body Deutsche Asset & Wealth Management; the French Antin Infrastructure Partners; the Saudi Arabian Masdar; the North American NextEra and the Mexican Renergy.

RWE has a minority stake in the 50 MW Andasol 3 CSP plant, in Granada. The German company also possesses shares in 16 wind farms in Zaragoza and Soria and four hydroelectric plants Ávila, Albacete and Asturias.