Terra Sola, out of Bahrain, is exiting Morocco just two years after entering the country’s renewable energy market. The firm is selling off its local subsidiary, Terra Sola Morocco because projects are not moving forward.
The company said in 2015 that it wished to develop 16 PV solar plants in Morocco, each having a production capacity of 25 MW. A project which would have made the company one of Morocco’s main solar power providers. However, nothing was accomplished since the announcement.
Morocco’s loss will be Egypt’s gain as the company revealed it will invest $3.5 billion in the PV sector in Egypt.
Source: Alternative Energy Africa