Morocco’s OCP borrows $110m to build four solar plants

Morocco’s State-owned phosphates and fertiliser producer OCP said on Wednesday it signed an agreement with the International Finance Corporation (IFC), the World Bank’s investment arm, on a €100-million ($110-million) loan to build four solar plants to power its industrial operations. The loan is part of an OCP investment plan worth 130-billion dirhams ($12.8-billion) to increase fertiliser production using renewable energy by 2027.