OCP lands funding IFC for solar projects: The International Finance Corporation (IFC) approved a green loan worth EUR 100 mn to Moroccan state-owned fertilizer and phosphate giant OCP Group to help finance the development of four solar plants yielding 202 MW, Morocco World News reports. The four plants would be located at OCP’s mining sites in the cities of Khouribga and Benguerir and require a total investment ticket of over EUR 159 mn. There is no timeframe or projected completion date for the plants.

The details: A 105 MW solar farm would be constructed in an area spanning 168 hectares in OCP’s Ouled Fares mining site in Khouribga, and another 30 MW PV plant would also be deployed in the same city at OCP’s quarry in Toum Fizi. Over in Benguerir, OCP plans to build two solar farms, one generating 45 MW of energy, and the other yielding 22 MW.

More to come: OCP’s four solar farms will become operational over two development phases, with the first phase deploying 202 MW of renewable energy without battery storage solutions, the news outlet notes. The second phase will increase the combined generational capacity of the four plants to 1.2 GW.

REMEMBER- OCP is ramping up solar and renewables deployments: OCP Group is earmarking USD 13 bn to invest in solar and clean energy projects as it looks to rely entirely on renewables to power its facilities by 2027.