Introduction
The growing competititveness of renewable energy against hydrocarbons in the Middle East and North Africa (MENA) has attracted great capital flows into new solar projects over the past few years.
Today, the region is witnessing first-of-their kind financing initiatives including the $27 billion Dubai Green Fund, which promsies to offer easy loans for investors at reduced interest rates; Green Deal Dubai, the MENA’s first cleantech crowdsourcing platform; and Morocco’s issuance of the country’s first green bond to help finance Noor PV 1 project. At the same time, local and regional commercial banks are becoming increasingly comfortable with funding solar projects, despite the technology being new to their portfolios. As we move into 2017, what can the solar industry expect from the financing community and what de-risking strategies would be beneficial to all sides? We speak with three financial experts in the MENA region to find out their perspectives.
Read the article online here: http://www.eurosunmed.eu/sites/default/files/documents/financing_solar_projects_in_mena.pdf
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