Clean Technology Fund Investment Plan Approved for Concentrated Solar Power in the MENA Region
The Middle East and North Africa (MENA) clean technology fund investment plan proposes co-financing of $750 million and mobilizes an additional $4.85 billion from other sources to accelerate deployment of Concentrated Solar Power (CSP) by investing...
| Main Authors: | , , , |
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| Format: | Brief |
| Language: | English |
| Published: |
World Bank, Washington, DC
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2009/12/11609053/clean-technology-fund-investment-plan-approved-concentrated-solar-power-mena-region http://hdl.handle.net/10986/10947 |
| Summary: | The Middle East and North Africa (MENA)
clean technology fund investment plan proposes co-financing
of $750 million and mobilizes an additional $4.85 billion
from other sources to accelerate deployment of Concentrated
Solar Power (CSP) by investing in the CSP expansion programs
of Algeria, Egypt, Jordan, Morocco and Tunisia.
Specifically, the Investment Plan will support MENA
countries to achieve their development goals of energy
security, industrial growth and diversification, and
regional integration. The international energy agency has
identified concentrating solar power (CSP) as one of the key
technologies that 'are at the heart of the energy
technology revolution because they can make the largest
contributions to reducing greenhouse gas emissions.'
However, CSP (like most new technologies) has higher costs
and risks than current technologies. Therefore,
international collaboration is required to accelerate the
global deployment of technologies like CSP through targeted
schemes providing positive incentives for their adoption at scale. |
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