Bank of Africa is helping to finance the massive Noor Atlas solar project

  The "Bank of Africa" Group announced yesterday, Tuesday, that it is participating in the financing and development of the "Noor Atlas" project, a strategic program to develop Morocco's solar photovoltaic infrastructure.

In a statement, the bank explained that this massive project involves the development, construction, operation, and maintenance of six solar photovoltaic power plants located in Ain Beni Mathar, Bouanane, Boudenib, Angil, Tan-Tan, and Tata, with a total installed capacity of 240 megawatts.

The project, supported by the Moroccan Agency for Sustainable Energy (MASEN) in a supporting capacity, represents a total investment of approximately 2.8 billion dirhams. The financing relies on a hybrid and innovative structure combining loans from "Banque de l'Afrique" and "Mazen," the latter derived from concessional financing provided by the German Development Bank and the European Investment Bank.

The electricity generated by these various plants will be sold to the National Office of Electricity and Drinking Water under long-term power purchase agreements.

The project’s financial close was completed on January 13, 2026, marking a decisive step in the implementation of this strategic program for the development of renewable energy in Morocco.