BANK OF AFRICA is helping fund the Noor Atlas solar project, which will build six solar power plants across Morocco with a total capacity of 240 MW.
The plants are expected to produce about 600 GWh of electricity each year and cut around 400,000 tonnes of carbon dioxide emissions. The electricity will be sold to ONEE under long-term contracts.
The project, led by MASEN, has a total cost of around 2.8bn dirhams. Funding comes from a mix of commercial loans from BANK OF AFRICA and low-interest financing from the European Investment Bank and Germany’s KfW. The deal was finalised on 13 January 2026.
The six plants will be built at Ain Beni Mathar, Bouanane, Boudnib, Enjil, Tan-Tan and Tata, areas chosen for strong sunlight to get the most energy.
Noor Atlas is part of Morocco’s plan to spread out power production rather than relying on one big site like Noor Ouarzazate. It also supports the country’s goal of getting 52% of its electricity from renewable sources by 2030, and Morocco could even reach 56% by 2027.
The project uses modern solar technology, including panels that capture sunlight from both sides and trackers that follow the sun to make more power. Some sites will also have battery storage to help keep the electricity supply steady.
A 40% local content rule means much of the equipment will be made in Morocco. Building the plants will create over 2,000 jobs, with about 200 permanent roles once the project is running. Moroccan and European teams are working together to share skills and know-how.
The plants are expected to start producing electricity in July 2027,
