World Bank approves $265 million for Morocco pumped hydropower storage project to boost renewable energy integration

The World Bank has approved $265 million for the Ifahsa Pumped Hydropower Storage Project in northern Morocco. The 300 MW facility will act like a large battery, storing water when solar and wind output is high and releasing it to generate power during peak demand. The project is expected to help Morocco integrate at least 1 GW of additional solar and wind capacity into its grid, replacing about 3 TWh of fossil fuel generation each year and cutting CO2 emissions by an estimated 1.7 million tonnes annually. The financing combines support from the IBRD, the Clean Technology Fund, and the Livable Planet Fund, with co-financing from the African Development Bank. The project is expected to create around 820 direct construction jobs per year and unlock roughly $1 billion in private investment for renewable energy infrastructure. For anyone tracking pumped storage as a grid balancing tool or World Bank climate finance in North Africa, this is a concrete example of how multilateral development banks are backing dispatchable clean power.