The World Bank has approved a $265 million investment for the Ifahsa Pumped Hydropower Storage Project in northern Morocco, marking a significant clean energy initiative in Africa. Set near Chefchaouen, this 300-megawatt facility will enhance the reliability and resilience of Morocco’s electricity system, enabling the country to integrate an additional 1 gigawatt of solar and wind energy. The project acts as a large-scale rechargeable battery, storing energy during high production times and delivering it during peak demand.
Besides providing cleaner electricity to consumers, it is expected to create approximately 820 direct jobs annually during construction and additional employment opportunities across the energy sector. The initiative will replace around 3 terawatt-hours of fossil fuel-generated electricity each year and prevent an estimated 1.7 million tons of CO₂ emissions. The financing includes contributions from multiple sources, including the African Development Bank and technical assistance from the World Bank Group, showcasing effective international cooperation for large-scale clean energy projects. The Ifahsa project aims to support economic growth and strengthen Morocco’s position in low-carbon supply chains.