Solar plans lit up by $5bn fund - The National Newspaper

Solar plans lit up by $5bn fund - The National Newspaper: "Solar plans lit up by $5bn fund

Tamsin Carlisle

* Last Updated: August 17. 2010 8:55PM UAE / August 17. 2010 4:55PM GMT

Several of the recipients have already taken strides towards large-scale renewable power generation. They have most actively developed wind power, which is cheaper than solar. Abdelhak Senna / AFP

Countries in the MENA region with little or no oil and gas deposits are endowed with abundant sunlight and sparsely occupied land – resources that could make the region a renewable energy powerhouse.

The World Bank is providing Egypt, Jordan, Morocco, Tunisia and Algeria with a total of US$5.5 billion (Dh20.2bn) in funding for solar projects to be completed by 2015. The projects’combined electricity generation capacity of 9,000 megawatts would equal nearly the total installed power capacity of Abu Dhabi."