Cash pump – The World Bank has agreed to contribute $265 mln to a pumped hydro project in Morocco, it announced Wednesday, which it described as one of the most significant energy infrastructure investments for Africa. Located near Chefchaoeun, the Ifahsa Pumped Hydropower Storage Project will have a capacity of 300 MW and will enable the country to add at least 1 GW of new solar and wind power to its grid and unlock $1 bln of private sector investment. This will lead to the displacement of 3 TWh of fossil fuel-based generation, reducing emissions by 1.7 MtCO2e annually, the bank said. Morocco has signed deals with Switzerland and Norway under the Paris Agreement’s Article 6 to support the roll out of renewable energy.