The aim of this partnership is to support African countries, especially those in the Sahel region that are targeting Desert to Power, in the development of renewable energy technologies.
Chairman of the African Development Bank Group (AfDB.org), Akinwumi Adesina and Masen President (Masen.ma) (Moroccan Agency for Sustainable EnergyMustapha Bakkoury, on November 7, 2018, signed a letter of intent confirming their new cooperation under the "Desert to Power" program. It was the first day of Africa Investment Forum (AfricaInvestmentForum.com) in Johannesburg, South Africa.
The aim of this partnership is to support African countries, especially those in the Sahel region that are targeting Desert to Power, to develop renewable energy technologies that best match their natural conditions and needs. specific action.
The aim is to combine Masen's know-how in the development of renewable energy projects with the operational experience of the African Development Bank in this field, in particular as regards the exchange of know-how, capacity building and technical assistance, development of renewable energy projects and mobilizing the necessary resources.
"Morocco is an example of renewable energy," said Akinwumi Adesina, chairman of the African Development Bank when he ratified the agreement. "When I visited the band Noor Ouarzazate (bit.ly/2qwvLo5), in which the Bank invested heavily, what impressed me was that it was done with the potential of Morocco." It turns out that Africa can achieve great international things. We have therefore asked Morocco to support us in the "Desert to Power" initiative that we are developing in the Sahel. It is a strategic partnership that combines leadership and technical expertise. Together, we will speed up efforts to electrify Africa. "
For Mustapha Bakkoury, Masen's chairman, "sharing Masen's experience and starting a competitive competitive dynamic for renewable energy in the African continent is to seek to make renewable energy a reality." an inclusive driver. This partnership with the African Development Bank is a key asset to achieving this ambition. "
Together we will speed up efforts to electrify Africa
Noting the importance of this new agreement at the signing ceremony, Morocco's Minister of Economy and Finance, Mohamed Benhaambuun, and the Chairman of the General Confederation of Enterprises of Morocco (CGEM), Salaheddine Mezouar. They also included Moroccan bank governor Abdelmajid Mellouki, Mohamed El Azizi, North African chief executive, and Leïla Mokaddem, Moroccan country director.
"Our know-how must be able to shine all over the continent," said Mohamed Benchaaboun, who stressed that this "cooperation between Masen and the Bank reflects South-South cooperation."
A critical partnership, which was welcomed by Salaheddine Mezouar: "Today, the African Development Bank gives an example, and like the Africans, we can be proud of this."
For the Bank, this partnership is a concrete expression of the desire to further enhance the excellent cooperation it seeks with Morocco. With more than $ 1 billion in commitments, renewable energy projects (solar, wind and hydro) account for about 80% of the Bank's energy portfolio. in the Kingdom.
The African Development Bank was the main economic operator of Noor Ouarzazate (bit.ly/2vaVXHA) Noor Ouarzazate I (160 MW), which accounted for almost 30% of the total investment cost. The Foundation also contributes to the financing of Noor Ouarzazate II (200 MW) and Noor Ouarzazate III (150 MW).
Morocco has an ambitious goal to increase the share of renewable energy in its energy mix to at least 52% by 2030. The Kingdom intends to share the Renewable Energy Development Model with Africa in order to accelerate its energy transition in the context of sustainable and inclusive growth, which is mainly embodied in 13 collaborations with African countries in the field of renewable energy, 5 of which are related to the "Desert in Power" field.
In general, this action contributes to the implementation of the new Energy Agreement in Africa (bit.ly/2AREyGZ), which aims, in particular, to establish a total capacity of 10 GW of renewable energy on the horizon. 2025.
The signing ceremony was held on the first day of the first Africa Investment Forum (AIF), an initiative of the African Development Bank to accelerate the implementation of development projects in Africa. catalyst in Africa and involve the private sector. This by reducing the risks associated with large-scale investments as well as brokerage fees and by tracking transactions until they are completed. This top investment market in Africa is held in Johannesburg, South Africa, until 9 November 2018.