ACWA Power Reports Storage Breakdown At Moroccan Solar Plant, Faces $47 Million Loss

ACWA Power International, a renewable energy utility based in Saudi Arabia, announced a storage malfunction at one of its solar facilities in Morocco, leading to an estimated loss of $47 million for the company.

The affected plant, which has a capacity of 150 megawatts and forms part of the Noor Ouarzazate solar complex, will remain inactive until November 2024, according to the company’s disclosure on the Saudi Stock Exchange website.

This breakdown highlights recurring technical challenges and storage malfunctions encountered at the concentrating solar power (CSP) facility. Sources revealed that technical issues halted operations at the plant entirely for a year starting from summer 2021.

ACWA Power stated its intention to address the storage problem through repairs and is considering the construction of a new storage tank.

In a 2020 report, Morocco’s economic, social, and environmental council recommended discontinuing CSP due to its higher costs compared to photovoltaic and wind energy alternatives.

Morocco aims to increase the share of renewables in its installed capacity to 52% by 2030, up from the current 37.6%, primarily through investments in solar and wind projects.

However, progress in solar installations has been slower than expected, with only 831 megawatts installed so far, falling short of the planned 2,000 MW by 2020. While wind energy has partially compensated for this shortfall, coal-fired power plants still dominate the country’s energy output.