The purpose of this partnership is to support African countries, especially those in the Sahel region targeting "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, November 7, 2018, signed a letter of intent confirming its new cooperation under the "Desert to Power" program. It was the first day of the Africa Investment Forum (AfricaInvestmentForum.com) in Johannesburg, South Africa.
The purpose of this partnership is to support African countries, especially those in the Sahel region, targeting "Desert to Power" in the development of renewable energy technologies that best suit their natural conditions and their needs. specific energy.
The purpose is to combine Mas's competence in the development of renewable energy projects with the operational experience of the African Development Bank in this sector, especially in terms of skills sharing, capacity building and experience, technical assistance, project development in renewable energy and mobilization of necessary resources.
"Morocco is an example of renewable energy," said Akinwumi Adesina, president of the African Development Bank when ratifying the deal. "When I visited the Noor Ouarzazate complex (bit.ly/2qwvLo5), where the bank invested heavily, I fascinated that it was done with Moroccan abilities. It proves that Africa can achieve great things internationally within reach. He added : "We have therefore asked Morocco to support us in the" Desert to Power "initiative that we develop in Sahel. It is a strategic partnership that combines leadership and technical expertise. Together we will speed up efforts to electrify Africa. "
For Mustapha Bakkoury, Masen's President, "sharing the experience the MAS has developed and initiating a competitive development dynamics for renewable energy on the African continent is to strive to realize renewable energy sources, including growth drivers. This partnership with the African Development Bank is a definite asset to achieve this ambition ".
Together we will speed up efforts to electrify Africa
The sign of the importance of this new agreement was present at the signing ceremony of Morocco's Finance and Finance Minister, Mohamed Benchaaboun, as well as the President of the General Assembly of Morocco, Salaheddine Mezouar. In addition, they include Morocco's banking administrator Abdelmajid Mellouki, Mohamed El Azizi, General Director of North Africa and Leïla Mokaddem, Morocco's Country Director.
"Our expertise must be able to shine throughout the continent," said Mohamed Benchaaboun, who emphasized how this "partnership between the Mas and the Bank reflects South-South cooperation".
An important partnership, as Salaheddine Mezouar, in turn, celebrated: "Today, the African Development Bank places itself on the example. And as Africans, we can only be proud of it."
For the bank, this partnership is a concrete expression of the will to further strengthen the excellent cooperation that Morocco is conducting. With over $ 1 billion in commitments, renewable energy production projects (solar, wind and hydropower) account for about 80 percent of the bank's energy portfolio. in the kingdom.
The African Development Bank has been the main financial contributor to Noor Ouarzazate I (160 MW) Noor Ouarzazate Solar Complex (bit.ly/2vaVXHA), which contributes almost 30% of the total investment cost. The institution also contributes to the funding of Noor Ouarzazate II (200 MW) and Noor Ouarzazate III (150 MW).
Morocco has an ambitious goal of increasing the share of renewable energy sources in its energy mix to at least 52% by 2030. The Kingdom intends to share its renewable energy development model with Africa to help speed up the Energy Transition in the context of sustainable and inclusive growth, all in 13 partnerships with African countries in renewable energy sources, 5 of which refer to the "Desert to Power" area.
More extensively, this operation contributes to the creation of the New Deal for Energy in Africa (bit.ly/2AREyGZ), which aims at installing a total production capacity of 10 GW from renewable energy sources on the horizon. By 2025.
The signing ceremony was held on the first day of the first Africa Investment Forum (AIF), an initiative of the African Development Bank to accelerate the implementation of development projects in Africa. catalyst in Africa and involves the private sector. This by reducing the risks associated with large-scale investments as well as intermediation fees and by tracing transactions in the end. This leading investment market in Africa takes place in Johannesburg, South Africa, until November 9, 2018.