AfDB and Morocco have signed new cooperation on renewable energy



AfDB and Morocco signed a new co-operation

AfDB and Morocco have signed new cooperation on renewable energy

Frdric Gor-Bi / RTIinfo | Read 229 times | Posted Today 15 hours ago

African Development Bank Chairman Akinwumi Adesina and President of the Moroccan Renewable Energy Agency (MAS), Mustapha Bakkoury, on November 7, 2018, signed a letter to Johannesburg with the intention of marking new energy cooperation. renewable sources.

The aim of this partnership, which was signed under the "Desert to Power" program within the first African Investment Forum, is to support African countries, especially those in the Sahel area, which focus on "Desert to Power". , the development of renewable energy technologies that best match their natural conditions and their specific energy needs.

In fact, it combines the expertise of Masen, the Moroccan institution responsible for the management of renewable energy sources, in the development of ADB's projects and operational experience in this sector. These include sharing know-how, capacity building and experience, technical assistance, development of renewable energy projects and mobilization of the necessary resources.

For Akinwumi Adesin, President of the African Development Bank, "Morocco is an example of renewable energies"He continued his impulse, he said "When I visited the Noor Ouarzazate complex, where the bank was heavily invested, what fascinated me was that it had to do with Moroccan capabilities. It is evidence that Africa can achieve great international things. And add, " That is why we have asked Morocco to support us in the "Desert to Power" initiative we are developing in Sahel. It is a strategic partnership that combines leadership and expertise. Together, we will speed up our efforts to electrify Africa. "

As for Mustafa Bakkoury, President Masen, he stressed that he wished he wanted "Share the experience my company is developing and initiate the dynamic development of competitive renewable energy sources across the African continent." According to him, "This partnership with the African Development Bank is a clear contribution to achieving these goals and its goal is to make renewable energy a real lever for inclusive growth",

Moroccan Minister of Economy and Finance Mohamed Benchaaboun, who was present at the ceremony, said it "The expertise of the Sherifian kingdom must be able to radiate the entire continent",

For the African Development Bank, this partnership is a concrete expression of the desire to strengthen the excellent cooperation it is pushing with Morocco. With more than $ 1 billion in commitments, renewable energy projects (solar, wind and hydro power plants) account for approximately 80% of the Bank's energy portfolio. in the kingdom.

Morocco has an ambitious target of increasing the share of renewable energies in its mix of energy sources by at least 52% by 2030. The Kingdom intends to share its Renewable Energy Development Model with Africa to help speed its transition to energy

In particular, Africa Development Bank was the largest financial contributor, accounting for almost 30% of total investment costs. The institution also contributes to the financing of Noor Ouarzazate II (200 MW) and Noor Ouarzazate III (150 MW).

African Development Bank Chairman Akinwumi Adesina and President of the Moroccan Renewable Energy Agency (MAS), Mustapha Bakkoury, on November 7, 2018, signed a letter to Johannesburg with the intention of marking new energy cooperation. renewable sources.

The aim of this partnership, which was signed under the "Desert to Power" program within the first African Investment Forum, is to support African countries, especially those in the Sahel area, which focus on "Desert to Power". , the development of renewable energy technologies that best match their natural conditions and their specific energy needs.
In fact, it combines the expertise of Masen, the Moroccan institution responsible for the management of renewable energy sources, in the development of ADB's projects and operational experience in this sector. These include sharing know-how, capacity building and experience, technical assistance, development of renewable energy projects and mobilization of the necessary resources. For Akinwumi Adesin, President of the African Development Bank, "Morocco is an example of renewable energies". He continued his impulse and said: "When I visited the Noor Ouarzazate complex, where the bank was investing a lot, what fascinated me was that it was done with Moroccan capabilities. It is proof that Africa can achieve great international things. He added: "We have therefore asked Morocco to support us in the" Desert to Power "initiative we are developing in Sahel. It is a strategic partnership that combines leadership and expertise. Together, we will speed up our efforts to electrify Africa. As for Mustaf Bakkoury, the president of Masen, he said he wanted to "share the experience my business is developing and launch a dynamic competitive development of renewable energies on the African continent." According to him, "this partnership with the African Development Bank is a concrete contribution to achieving these goals and the goal is to make renewable energies a real lever for inclusive growth." Moroccan Economy and Finance Minister Mohamed Benchaaboun said that "the expertise of the Kingdom of Morocco must be able to shine all over the continent." For the African Development Bank, this partnership is a concrete expression of the desire to strengthen the excellent cooperation it is pushing with Morocco. With more than $ 1 billion in commitments, renewable energy projects (solar, wind and hydro power plants) account for approximately 80% of the Bank's energy portfolio. in the kingdom.
Morocco has an ambitious target of increasing the share of renewable energies in its mix of energy sources by at least 52% by 2030. The Kingdom intends to share its Renewable Energy Development Model with Africa in order to help accelerate its transition to energy The African Development Bank was the largest contributor by contributing approximately 30% of the total investment costs. The institution also contributes to the financing of Noor Ouarzazate II (200 MW) and Noor Ouarzazate III (150 MW).

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