World Bank approves $265 million for pumped‑hydro storage project in northern Morocco

The World Bank’s board of executive directors approved a US$265 million financing package for a pumped‑hydro storage facility in Ifrishsa, near Chefchaouen in northern Morocco. The 300‑megawatt plant will function as a large‑scale battery, pumping water to an upper reservoir when renewable output is high and generating electricity when demand peaks.

The project is expected to enable the integration of at least 1 gigawatt of additional solar and wind capacity, replace roughly 3 terawatt‑hours of fossil‑fuel generation each year and avoid about 1.7 million tonnes of CO₂ emissions annually. Construction could create around 820 direct jobs and spur further employment in the energy sector. Funding combines World Bank loans, a Clean Technology Fund loan, a Global Environment Facility grant and participation from the African Development Bank, with implementation by Morocco’s National Office of Electricity and Drinking Water. Regional World Bank director Ahmedou Mustafa Nday said the project exemplifies transformative, multi‑partner infrastructure partnerships.