The goal of this partnership is to support people in the Sahel region, especially in Africa, "desert to power" in the development of renewable energy technologies.
African Development Bank Group President (AfDB.org), Akinwumi Adesina and Masen President (Masen.ma) (Morocco Sustainable Energy OrganizationOn November 7, 2018, Mustapha Bakkoury signed a letter confirming the new partnership under the "Desert to Power" program. It was the first day of Africa Investment Forum (AfricaInvestmentForum.com) in Johannesburg, South Africa.
The purpose of this partnership is to support people in African countries, especially those in the Sahel region, which is aimed at "power in the desert", in the development of renewable energy technologies that best suit the natural state and needs. Non energy.
The purpose of this project is to develop Masen's renewable energy project development expertise and the operational experience of the African Development Bank, especially know-how sharing, capacity building and experience, technical assistance, project development of renewable energy and mobilization of resources.
"Morocco is an example of renewable energy," said Akinwumi Adesina, president of the African Development Bank. "When I visited Nuor Ouarzazate complex (bit.ly/2qwvLo5), where the bank invested heavily, I was fascinated by the fact that it was completed by Moroccan power. "We asked Morocco to support us in the" Desert to Power "initiative being developed at Sahel. A strategic alliance that combines leadership and expertise. Together we will accelerate our efforts to power Africa. "
Mustapha Bakkoury, Chairman of Masen, said: "Sharing my experience with Masen and embarking on a dynamic and dynamic development of renewable energy on the African continent is a realization of renewable energy. Partnerships with banks are a sure asset to realize this ambition. "
Together we will accelerate our efforts to supply electricity to Africa.
The signing of the importance of this new agreement was announced at the Morocco Moroccan Finance Minister, Mohamed Benchaaboun and Salaheddine Mezouar Governor General of Morocco (CGEM). In addition, Abdelmajid Mellouki, Bank Secretary, Morocco, Mohamed El Azizi, Secretary General of North Africa, Leila Mokaddem, Moroccan country leader,
"Our expertise should be able to shine throughout the continent," emphasized Mohamed Benchaaboun, "a partnership between Masen and Bank reflects South-South cooperation."
Important partnerships that Salaheddine Mezouar mentioned in turn include: "The African Development Bank is presenting the case today, and as Africans, we can only be proud of it."
The partnership with the Bank of Morocco is a concrete expression of the desire to strengthen close cooperation with Morocco. With over $ 1 billion promise, renewable energy generation projects (solar, wind and hydropower) account for about 80% of the bank's energy portfolio. In the kingdom.
The African Development Bank was a major financial contributor to the Noor Ouarzazate I (160 MW) Noor Ouarzazate solar complex (bit.ly/2vaVXHA) and contributed nearly 30% of the total investment cost. It also contributes to the financing of Noor Ouarzazate II (200 MW) and Noor Ouarzazate III (150 MW).
Morocco has an ambitious goal of increasing renewable energy share by at least 52% by 2030. The UK is accelerating by sharing its renewable energy development model with Africa. It has been embodied in energy conversion in a sustainable and inclusive growth context, especially in the area of renewable energy and 13 partnerships with African countries, five of which are "desert Power ".
More broadly, this work contributes to the realization of the African Energy Convention (bit.ly/2AREyGZ), which seeks to establish a total production capacity of 10 GW on the horizon, especially in renewable energy sources. 2025.
The signing ceremony was held on the first day of the African Development Bank's first African Investment Forum (AIF) to accelerate the implementation of development projects in Africa. It is a catalyst for Africa and includes the private sector. This can be done by reducing the risks associated with large-scale investment and brokerage commissions and by tracking the deal to completion. The best investment market in Africa will be held in Johannesburg, South Africa, until November 9, 2018.