The aim of this partnership is to support African countries, especially in the Sahel region targeted by the "Desert to Power", in the development of renewable energy technologies.
African Development Bank Group Chair (AfDB.org), Akinwumi Adesina, and Masen President (Masen.ma) (Moroccan Agency for Sustainable EnergyMustapha Bakkoury, on November 7, 2018, signed a letter of intent affirming their new cooperation under the "Desert to Power" program. This is the first day of the African Investment Forum (AfricaInvestmentForum.com) in Johannesburg, South Africa.
The aim of this partnership is to support African countries, especially in the Sahel region targeted by the "Desert to Power", in the development of renewable energy technologies that are most suitable for their natural conditions and needs. specific energy.
The aim is to combine Masen's expertise in developing renewable energy projects with the operational experience of African Development Banks in this sector, especially in terms of knowledge sharing, capacity building and experience, technical assistance, project development in renewable energy and the necessary mobilization of resources.
"Morocco is an example of renewable energy," said Akinwumi Adesina, president of the African Development Bank when ratifying the agreement. "When I visited the Noor Ouarzazate (bit.ly/2qwvLo5) complex, where the Bank invested, what fascinated me was that it was done with Moroccan capabilities. This is proof that Africa can achieve great things, internationally. He added: "Therefore we have asked Morocco to support us in the" Desert to Strength "initiative that we developed in the Sahel. This is a strategic partnership that combines leadership and technical expertise. Together, we will accelerate efforts to thrill Africa. "
For Mustapha Bakkoury, president of Masen, "to share experiences that Masen has developed and begin the dynamic of competitive development for renewable energy on the African continent, it is with the aim of making renewable energy a reality. The driver of inclusive growth. This partnership with the African Development Bank is a definite asset to realize this ambition ".
Together we will accelerate efforts to thrill Africa
Signs of the importance of this new agreement were present at the ceremony of signing the Minister of Economy and Finance of Morocco, Mohamed Benchaaboun, and President of the General Confederation of Moroccan Enterprises (CGEM), Salaheddine Mezouar. Together with them also included Moroccan Bank Administrators Abdelmajid Mellouki, Mohamed El Azizi, Director General for North Africa, and Leïla Mokaddem, director of the Moroccan state.
"Our expertise must be able to shine on all continents," said Mohamed Benchaaboun, who stressed how "the partnership between Masen and the Bank reflects South-South cooperation."
A crucial partnership, which Salaheddine Mezouar said instead: "Today, the African Development Bank exemplifies. 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 extraordinary cooperation that is being sought with Morocco. With commitments of more than $ 1 billion, renewable (solar, wind and hydroelectric) power generation projects contribute around 80% of the Bank's energy portfolio. in Kingdom.
The African Development Bank has become the main financial contributor to Noor Ouarzazate I (160 MW) of the Noor Ouarzazate solar complex (bit.ly/2vaVXHA), accounting for almost 30% of the total investment cost. This institution also contributes to the financing of Noor Ouarzazate II (200 MW) and Noor Ouarzazate III (150 MW).
Morocco has an ambitious goal of increasing the share of renewable energy in its energy mix to a minimum of 52% by 2030. The Kingdom intends to share a model of renewable energy development with Africa, to help accelerate its energy transition in the context of inclusive and sustainable growth, mainly realized in 13 collaborations with African countries in the field of renewable energy, 5 of which involve the scope of "Desert to Strength".
More broadly, this operation contributed to the realization of the New Agreement for Energy in Africa (bit.ly/2AREyGZ), which intends specifically to install a total production capacity of 10 GW from renewable energy sources on the horizon. in 2025.
The signing ceremony was held on the first day of the first African Investment Forum (AIF), an initiative of the African Development Bank to accelerate the implementation of development projects in Africa. catalyst in Africa and involving the private sector. This, by reducing the risks associated with large-scale investment and intermediation costs, and by tracking transactions to completion. The main investment market in Africa takes place in Johannesburg, South Africa, until November 9, 2018.