134 S. MOORE
projects in Western Sahara discussed later. 82 As the price of solar PV has
fallen over the past several years, it is possible for the Moroccan government to finance solar PV without concessional financing. However, the
plans for CSP are still underway.
Wind has needed much less concessional financing than CSP because of
its lower market price. This financing has included equity investment from
shareholder companies and debt financing from ONEE. A Moroccan
company called Nareva, which is also an independent generator of coalfired power, has been heavily involved in wind development. 83 European
companies, such as Enel Green Power, Siemens, and EDF Renouvelables,
as well as TAQA (Abu Dhabi) and Mitsui (Japan), have partnered with
Nareva. Morocco has received $148.95 million in financing from the
Clean Technology Fund for the Jbel Khalladi wind farm and for energy
efficiency initiatives. 84 Financing for Khalladi also came from the European Bank for Reconstruction and Development, the Moroccan BMCE
Bank of Africa, and a $960,000 grant from the Sustainable Energy Fund
for Africa. 85 In 2012, KfW provided $61,410,500 for the 150 MW Taza
wind farm. 86
The literature on the rentier state typically includes international aid
as a type of rent. However, much of this funding is a loan not a grant,
which will have to be paid back, and the goal is for this funding to jumpstart a renewable energy transition, rather than to provide ongoing rents
in the way that hydrocarbons do. Additionally, the funding provided to
Morocco for CSP did not focus solely on domestic aid but also on positive
externalities at the international scale. According to an interviewee, the
World Bank’s CSP program sought to bring CSP down the cost curve by
experimenting with the technology in areas of North Africa with advantageous geographical resources. Energy prices from CSP decreased from
$189 per MWh for Noor I to $140/MWh for Noor II, in spite of a
lower level of concessional financing and a switch from wet cooling to
dry cooling, which reduces power plant efficiency. 87 Increased storage
capacity was added for Noor II, improving the utilization of surplus heat.
The Role of the Gulf States
ACWA Power, a Saudi power and water utility company founded in 2004
with a net income of $245.17 million in 2017, 88 has played a major role
in Morocco’s renewable energy development. The company built the Jbel
Khalladi wind farm in Tangier. ACWA Power’s subsidiary, NOMAC, is
projects in Western Sahara discussed later. 82 As the price of solar PV has
fallen over the past several years, it is possible for the Moroccan government to finance solar PV without concessional financing. However, the
plans for CSP are still underway.
Wind has needed much less concessional financing than CSP because of
its lower market price. This financing has included equity investment from
shareholder companies and debt financing from ONEE. A Moroccan
company called Nareva, which is also an independent generator of coalfired power, has been heavily involved in wind development. 83 European
companies, such as Enel Green Power, Siemens, and EDF Renouvelables,
as well as TAQA (Abu Dhabi) and Mitsui (Japan), have partnered with
Nareva. Morocco has received $148.95 million in financing from the
Clean Technology Fund for the Jbel Khalladi wind farm and for energy
efficiency initiatives. 84 Financing for Khalladi also came from the European Bank for Reconstruction and Development, the Moroccan BMCE
Bank of Africa, and a $960,000 grant from the Sustainable Energy Fund
for Africa. 85 In 2012, KfW provided $61,410,500 for the 150 MW Taza
wind farm. 86
The literature on the rentier state typically includes international aid
as a type of rent. However, much of this funding is a loan not a grant,
which will have to be paid back, and the goal is for this funding to jumpstart a renewable energy transition, rather than to provide ongoing rents
in the way that hydrocarbons do. Additionally, the funding provided to
Morocco for CSP did not focus solely on domestic aid but also on positive
externalities at the international scale. According to an interviewee, the
World Bank’s CSP program sought to bring CSP down the cost curve by
experimenting with the technology in areas of North Africa with advantageous geographical resources. Energy prices from CSP decreased from
$189 per MWh for Noor I to $140/MWh for Noor II, in spite of a
lower level of concessional financing and a switch from wet cooling to
dry cooling, which reduces power plant efficiency. 87 Increased storage
capacity was added for Noor II, improving the utilization of surplus heat.
The Role of the Gulf States
ACWA Power, a Saudi power and water utility company founded in 2004
with a net income of $245.17 million in 2017, 88 has played a major role
in Morocco’s renewable energy development. The company built the Jbel
Khalladi wind farm in Tangier. ACWA Power’s subsidiary, NOMAC, is