The World Bank has approved $265m in financing for the Ifahsa pumped storage hydropower project in Morocco, which will support the integration of additional renewable generation into the country's electricity system. This project will enable the addition of at least 1GW of solar and wind capacity to the national grid, displacing approximately three terawatt-hours of fossil fuel generation annually and avoiding an estimated 1.7 million tonnes of carbon dioxide emissions each year. The construction of the project is expected to create around 820 direct jobs annually, with additional employment linked to the renewable energy capacity enabled by the project. The financing package includes lending from the International Bank for Reconstruction and Development, concessional funding from the Clean Technology Fund, and a grant from the Livable Planet Fund, with co-financing from the African Development Bank and implementation by Morocco's Office National de l'Électricité et de l'Eau potable (ONEE).
https://www.power-technology.com/news/world-bank-backs-morocco-pumped-storage-project/