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AfDB and Morocco Sign New Cooperation in Renewable Energy



AfDB and Morocco sign new cooperation

AfDB and Morocco Sign New Cooperation in Renewable Energy

Frdric Gor-Bi / RTI | Read 239 times | Posted 22 days ago

Akinwumi Adesina, President of the African Development Bank Group and Mustapha Bakkoury, President of the Moroccan Renewable Energy Agency (MASEN), signed a letter of intent on November 7, 2018 stating new cooperation in the field of energy for Johannesburg. renewable.

The aim of this partnership, which was signed in the üzere Power in the Desert öl program on the sidelines of the First African Investment Forum, was to support African countries in the Sahel region, primarily the ı Desert Power İlk. In the development of renewable energy technologies best suited to natural conditions and specific energy needs.

Indeed, Masen, which is responsible for the management of renewable energy in ADB's project development and operational experience in this sector, incorporates the expertise of the Moroccan institution. These include sharing knowledge, capacity building and experience, technical support, developing projects for renewable energies and mobilizing the necessary resources.

African Development Bank for President Akinwumi Adesina "Morocco is an example of renewable energies". Maintaining speed, declared Et When I visited the Noor Ouarzazate complex, where the bank invested heavily, it was how much Moroccan capabilities affected me. Africa's scope is proof that it can achieve great things internationally. And add, " For this reason, in the "Power in the Desert" initiative we developed in Sahel, we asked him to support Morocco. It is a strategic partnership that combines leadership and technical expertise. Together, we will accelerate efforts to strengthen Africa. "

As for Mustapha Bakkoury, the chairman of Masen, he emphasized that he wanted his role too. Gelişim Sharing the experience of my company and initiating the competitive development dynamics of renewable energies on the African continent “. According to that "This partnership with the African Development Bank is a definite asset to realize this passion and aims to make a real maneuver for inclusive growth in renewable energies.".

Morocco's Minister of Economy and Finance Mohamed Benchaaboun, who attended the signing ceremony, said: "The expertise of the kingdom is that the Sharif must be able to spread all over the continent.".

For African Development Bank, this partnership is a concrete expression of the desire to strengthen the excellent cooperation with Morocco. Renewable energy generation projects (solar, wind and hydroelectricity), with commitments exceeding $ 1 billion, make up approximately 80% of the Bank's energy portfolio. Kingdom & # 39; t.

Morocco has an ambitious goal to increase the share of renewable energies in the energy mix to 52% by 2030. The Kingdom plans to share its renewable energy development model with Africa to help accelerate. his energy transition

In particular, the African Development Bank was the largest financial contribution company that accounted for almost 30% of the total investment cost. The Agency also contributes to the financing of Noor Ouarzazate II (200 MW) and Noor Ouarzazate III (150 MW).

Akinwumi Adesina, President of the African Development Bank Group and Mustapha Bakkoury, President of the Moroccan Renewable Energy Agency (MASEN), signed a letter of intent on November 7, 2018 stating new cooperation in the field of energy for Johannesburg. renewable.

The aim of this partnership, which was signed in the üzere Power in the Desert öl program on the sidelines of the First African Investment Forum, was to support African countries in the Sahel region, primarily the ı Desert Power İlk. In the development of renewable energy technologies best suited to natural conditions and specific energy needs.
Indeed, Masen, which is responsible for the management of renewable energy in ADB's project development and operational experience in this sector, incorporates the expertise of the Moroccan institution. These include sharing knowledge, capacity building and experience, technical support, developing projects for renewable energies and mobilizing the necessary resources. "Moroccan is an example of renewable energies" for African Development Bank President Akinwumi Adesina. Continuing his pace, he said, "When I visit the Noor Ouarzazate complex, where the bank invests a lot, it is interested in how much Moroccan capabilities affect me." Africa's scope is proof that it can achieve great things internationally. He added: "For this reason, we wanted him to support Morocco in the" Power in the Desert "we developed in Sahel, a strategic partnership that combines leadership and technical expertise, and together we will accelerate efforts to strengthen Africa. According to Mustapha Bakkoury, president of the company, Kalkınma to share the experience of my company and to initiate the dynamic development of renewable energies on the African continent. Di According to him, 39 Afrika The Moroccan Economy and Finance Minister Mohammed Benchaaboun, in his signing, said that the expertise of the Kingdom of Morocco should shine through the continent. maktad Renewable energy generation projects (solar, wind, and hydroelectricity), with commitments exceeding $ 1 billion, make up approximately 80% of the Bank's energy portfolio. Kingdom & # 39; ta.
Morocco has an ambitious goal to increase the share of renewable energies in the energy mix to 52% by 2030. The Kingdom plans to share its renewable energy development model with Africa to help accelerate. The African Development Bank is the largest financial contribution company contributing about 30% of the total investment cost. The Agency also contributes to the financing of Noor Ouarzazate II (200 MW) and Noor Ouarzazate III (150 MW).

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