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The World Bank has granted US$20mn towards the construction of a 60MW wind farm project in Mocha, Yemen
The project, which is estimated to cost US$144mn, comprises contributions from the Arab Fund for Social and Economic Development (US$65mn), the OPEC Fund for International Development (US$20mn) and the Saudi Fund for Development (US$20mn), alongside the contribution from the World Bank, the financial institution said.
The project will be located on the coast of the Red Sea and is the first in Yemen involving wind power generation, it added.
According to industry sources, the grant will include the construction of the wind power farm, consulting services and capacity building to support project and programme development through private-public partnership (PPP).
Wael Zakout, country manager of Yemen for the World Bank, said, “We are pleased to support Yemen’s first wind power project together with other donors, which will increase the cost-effective electricity supply essential for poverty reduction, job creation, and economic development. Increased power supply is critical to Yemen, a country undergoing political and economic transformation towards more equitable growth.”
The project will help steer Yemen towards renewable energy and away from its dependence on fossil fuels, industry sources said.