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The purpose of this partnership is to support African countries, in particular those in the Sahel region, aimed at developing the technology of renewable energy technologies for Desert to Power.
Chairman of the African Development Bank Group (AfDB.org), President of Akinwumi Adesina and Masen (Masen.ma) (Morocco Sustainable Energy AgencyMustafa Bakkoury signed a letter of intent on November 7, 2018, confirming their new cooperation within the framework of the Desert to Power program. This was the first African Investment Forum (AfricaInvestmentForum.com) in Johannesburg, South Africa.
The purpose of this partnership is to support African countries, in particular those in the Sahel region targeted at Desert to Power, in developing renewable energy technologies that are most suitable for their natural conditions and their needs. special energy.
The aim is to combine Masen's competence in developing renewable energy projects, taking into account the operational experience of the African Development Bank in this sector, in particular with regard to knowledge sharing, capacity building and expertise, technical assistance, development of renewable energy projects and mobilization of the necessary resources.
"Morocco is an example in the field of renewable energy," said Akinwumi Adesin, President of the African Development Bank, in ratifying the deal. "When I visited the Noor Ouarzazate complex (bit.ly/2qwvLo5), in which the Bank invested heavily, I was fascinated by the fact that it was done with the capabilities of Morocco, which is proof that Africa can accomplish great things that are international. added: "Therefore, we have asked Morocco to support us in the" Desert Power "initiative, which we are developing in Sahel. It is a strategic partnership that combines management and technical expertise. Together, we will accelerate Africa's energy. "
Masens President Mustaf Bakkuryam "is to share the experience that Masen has developed and launched a competitive dynamic of development in the field of renewable energy in the African continent, aims to make renewable energy a reality. The driver of inclusive growth. This partnership with the African Development Bank has certain advantages in achieving this goal. . "
Together, we will accelerate Africa's energy
The signing ceremony of the Marie Economie and Finance Minister Mohamed Benchaaboun and the General Confederation of Moroccan Business (CGEM) Salaheddine Mezouar signaled the importance of this new agreement. Including Abdelmajid Mellouki, Administrator of the Moroccan Bank, Mohamed El Azizi, Director General of North Africa and Marilian State Director Leila Mokaddem.
"Our experience must be able to shine across the continent," said Mohamed Benchaaboun, who emphasized that this "Masen-Bank Partnership reflects the cooperation between the southern and southern countries."
A decisive partnership, which Salaheddine Mezouar said: "Today, the African Development Bank is an example. And as Africans, we can only be proud of it."
This partnership is a concrete expression of the Bank's desire to further strengthen the excellent cooperation that it has with Morocco. Renewable energy projects (solar, wind and hydroelectric plants) with a commitment of more than $ 1 billion make up about 80% of the Bank's energy portfolio. the kingdom.
The African Development Bank is the main financial investor of Noor Ouarzazate I (160 MW), Noor Ouarzazate, pledged to the complex (bit.ly/2vaVXHA), which invests almost 30% of total investment costs. The Authority also participates in the financing of Noor Ouarzazate II (200 MW) and Noor Ouarzazate III (150 MW).
Morocco has an ambitious goal of increasing the share of energy from renewable sources to a total of at least 52% by 2030. The kingdom plans to cooperate with its renewable energy development model with Africa in order to help accelerate its energy transition in terms of sustainable and inclusive growth, which includes, in particular, 13 cooperation with African countries in the field of renewable energy sources, of which 5 refer to the "wilderness for energy".
More generally, this operation contributes to the implementation of the African new energy treaty (bit.ly/2AREyGZ), which aims in particular to set 10 GW of total production capacity from renewable energy sources in the horizon. 2025
The signing ceremony took place on the first day of the African Investment Forum (AIF), an African Development Bank initiative to accelerate the implementation of African development projects. catalyst in Africa and engage the private sector. This will reduce the risks associated with large-scale investments as well as brokerage fees and complete transaction tracking. This first investment market in Africa is taking place in Johannesburg, South Africa, until 9 November 2018.
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