The aim of this partnership is to provide support to African countries, particularly those in the Sahel region, focusing on Desert to Power, in developing renewable energy technologies.
Chairman of the African Development Bank Group (AfDB.org), Akinwumi Adesina and Masen President (Masen.ma) (Moroccan Sustainable Energy AgencyMustapha Bakkoury, on November 7, 2018, signed a letter of intent confirming their new collaboration under the Desert to Power program. It was the first day of Africa's Investment Forum (AfricaInvestmentForum.com) in Johannesburg, South Africa.
The aim of this partnership is to provide support to African countries, especially those in the Sahel region, focusing on Desert to Power, in developing renewable energy technologies that are most suitable for their natural conditions and their needs. specific energy.
The aim is to combine Masen's expertise in developing renewable energy projects with the operational experience of the African Development Bank in this sector, particularly in terms of knowledge sharing, capacity building and experience, technical assistance, development of renewable energy projects and mobilization of the required resources.
"Morocco is an example of renewable energy sources," said Akinwumi Adesina, president of the African Development Bank after ratifying the agreement. "When I visited the complex Noor Ouarzazate (bit.ly/2qwvLo5), in which the Bank invested a lot, what fascinates me was that it was done with the Moroccan capabilities. It is a proof that Africa can accomplish great things, internationally in scope He added: "That is why we have asked Morocco to support us in the Desert to Power initiative that is being developed in Saheli. It is a strategic partnership that combines leadership and technical expertise. Together we will speed up the efforts to electrify Africa. "
For Mustapha Bakkoury, President Masen, "to share the experience Masen has developed and launched a competitive development environment for renewable energy sources in the African continent, is to achieve that renewable energies become the reality of the inclusive growth of drivers. achievement of that ambition ".
Together we will speed up the efforts to electrify Africa
Signs of the importance of this new agreement were attended by Moroccan finance and finance minister Mohamed Benchaaboun, as well as the President of the Moroccan Entrepreneurship Center (CGEM), Salaheddine Mezouar. Along with them were the bank manager Morocco Abdelmajid Mellouki, General Director for North Africa Mohamed El Azizi and Leïla Mokaddem, Director of the State of Morocco.
"Our expertise must be able to shine all over the continent," said Mohamed Benchaaboun, who stressed that this "partnership between Masen and the Bank reflects South and South cooperation".
The key partnership that Salaheddine Mezouar in turn welcomed: "African Development Bank is setting an example today, and 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 co-operation with Morocco. With more than $ 1 billion in commitments, renewable energy projects (solar, wind power and hydro power plants) account for about 80% of the Bank's energy portfolio. in the Kingdom.
The African Development Bank is a major contributor to the Noor Ouarzazate I (160 MW) Noor Ouarzazate (bit.ly/2vaVXHA), which contributes 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).
Morocco has an ambitious goal to increase the share of renewable energy sources in the energy mix by at least 52% by 2030. The Kingdom intends to share its renewable energy development model with Africa to help accelerate its energy transition in the context of sustainable and inclusive growth, particularly embodied in 13 co-operation with African countries in the field of renewable energy, of which 5 refers to the area of "Desert to Power ".
Wider, this operation contributes to the realization of a new energy business in Africa (bit.ly/2AREyGZ), which specifically wants to install the total production capacity of 10 GW from renewable energy sources horizontally. 2025.
The signing ceremony took place on the first day of the first African Investment Forum (AIF), the African Development Bank initiative to accelerate the implementation of development projects in Africa. catalyst in Africa and includes the private sector. By reducing risk associated with large investments, as well as brokerage fees, and tracking transactions to completion. This premier investment market in Africa takes place in Johannesburg, South Africa, until November 9, 2018.