The aim of this partnership is to support African countries, in particular those in the Sahel region, whose goal is "Desert to Power" in the field of renewable energy technology development.
Chairwoman of the African Development Group (AfDB.org), Akinwumi Adesina and President of Masen (Masen.ma) (Moroccan Agency for Sustainable EnergyMustapha Bakkoury, November 7, 2018. He signed a letter of intent confirming their new cooperation under the "Desert to Power" program. It was the first day of the African Investment Forum (AfricaInvestmentForum.com) in Johannesburg, South Africa.
The aim of this partnership is to support African countries, in particular those in the Sahel region, whose goal is "Desert to Power", in developing renewable energy technologies best suited to their natural conditions and their needs. specific energy.
The aim is to combine Masen's experience in the development of renewable energy projects with the operational experience of the African Development Bank in this sector, in particular in sharing know-how, capacity building and experience, technical assistance, renewable energy projects development and mobilization of necessary resources.
"Morocco is an example in the field of renewable energy," said Akinwumi Adesina, president of the African Development Bank, when he ratified the agreement. "When I visited the Noor Ouarzazate complex (bit.ly/2qwvLo5), in which the Bank invested a lot, which fascinated me, it was with Moroccan possibilities, it is proof that Africa can do great things on an international scale. That's why we asked Morocco to support us in the "Desert to Power" initiative, which we are developing in the Sahel. It is a strategic partnership that combines leadership and technical knowledge. Together, we will speed up efforts to electrify Africa. "
For Mustapha Bakkoura, president of Masen, "to share the experience that Masen has developed and to initiate competitive development dynamics for renewable energies on the African continent aims to make renewable energy a reality – a growth-friendly factor." This partnership with the African Development Bank is a strong asset to accomplish those ambitions. "
Together, we will speed up efforts to electrify Africa
An indication of the importance of this new agreement was present in the signing ceremony of the Moroccan Minister of Economy and Finance, Mohamed Benchaaboun, as well as President of the General Confederation of Enterprises of Morocco (CGEM), Salaheddine Mezouar. Next to them was the administrator of the Moroccan bank Abdelmajid Mellouki, Mohamed El Azizi, director general of North Africa and Leïla Mokaddem, director of the country of Morocco.
"Our knowledge must be able to shine across the continent," said Mohamed Benchaaboun, who stressed that "this partnership between Masen and the Bank reflects South-South cooperation."
The key partnership that Salaheddine Mezouar hailed was: "Today, the African Development Bank is setting an example. As Africans, we can only be proud of it."
For the Bank, this partnership is a concrete expression of the desire to further strengthen the excellent cooperation with Morocco. With more than USD 1 billion in liabilities, projects related to renewable electricity (solar, wind and hydroelectric energy) account for approximately 80% of the Bank's energy portfolio. in the kingdom.
The African Development Bank was the main financial participant in the Noor Ouarzazate I solar complex (160 MW) by Noor Ouarzazate (bit.ly/2vaVXHA), contributing almost 30% of the total investment costs. The institution also participates in the financing of Noor Ouarzazate II (200 MW) and Noor Ouarzazate III (150 MW).
Morocco has an ambitious target of increasing the share of energy from renewable sources in its energy mix to at least 52% by 2030. The Kingdom plans to make its renewable energy development model available in Africa to accelerate its energy transition in the context of sustainable and inclusive growth , in particular within the framework of 13 cooperation with African countries in the field of renewable energies, 5 of which relate to the scope "from desert to power".
Broadly speaking, this operation contributes to the implementation of the New Energy Plan in Africa (bit.ly/2AREyGZ), which intends in particular to install on the horizon a total production capacity of 10 GW from renewable energy sources. 2025.
The signing ceremony took place on the first day of the first African Investment Forum (AFI), an initiative of the African development bank to accelerate the implementation of development projects in Africa. a catalyst in Africa and engages the private sector. This reduces the risk associated with large-scale investments as well as intermediary fees and transaction tracking until their completion. This leading investment market in Africa is held in Johannesburg, South Africa until November 9, 2018.