Dubai, UAE — July 2026 — The World Bank’s Board of Executive Directors approved on Wednesday $265 million in financing to support the “Ifahsa” pumped-storage hydroelectric project in Morocco.
In a statement, the World Bank said the Ifahsa project, located in northern Morocco, will function as a giant rechargeable “battery” for the national electricity grid. During periods of high renewable energy generation, when the sun is shining or winds are strong, the plant will pump water to an upper reservoir.
This water is then released to flow through turbines, generating electricity precisely when demand peaks.
The 300-megawatt plant will enable Morocco to integrate at least one additional gigawatt of solar and wind power into its national grid, helping to catalyze roughly $1 billion in private sector investment.
