Rabat- State-controlled Chinese company Shanghai Electric is reportedly planning to invest more than $2 billion over a period of 5 years to develop about 3,500 MW of solar energy projects in Morocco, according to Hespress website.
The Chinese company had announced last June it got a substantial loan from the China Development Bank (CDB) to finance investment projects of $16.5 billion in 7 Arab countries, including Morocco.
Shanghai Electric did not disclose any further details of the potential investments in Moroccan solar energy plants, but reports suggest that the move coincides with plans between China and Morocco to sign agreements on renewable energies, exploration for oil, gas and minerals in Morocco.
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