The aim of this partnership is to support African countries, especially those from the Sahel region targeted by "Desert to Pover", in the development of renewable energy technologies.
Chairman of the African Development Bank Group (AfDB.org), Akinvumi Adesina and President Masen (Masen.ma) (Moroccan Agency for Sustainable EnergyMustapha Bakkori, on November 7, 2018, signed a letter of intent to confirm their new cooperation within the "Desert to Pover" program. It was 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 those from the Sahel region, which aim at "Desert to Pover", in the development of renewable energy technologies that is most suitable for their natural conditions and their needs. specific energy.
The aim is to combine the massive expertise in the development of renewable energy projects with the operational development of the African Development Bank in this sector, especially in terms of knowledge sharing, capacity building and experience, technical assistance, development of projects in renewable energy sources and mobilization of needed resources.
"Morocco is an example of renewable energy," said Akinvumi Adesina, president of the African Development Bank, when ratifying the agreement. "When I visited the Noor Ouarzazate complex (bit.li / 2kvvLo5), in which the Bank invested heavily, what fascinated me was that it was done with Moroccan capabilities. This is proof that Africa can accomplish great things, international He added: "That is why we asked Morocco to support us in the initiative" Desert to Pover ", which we are developing in Sahel. It is a strategic partnership that combines leadership and technical expertise. Together, we will speed up our efforts to electrify Africa. "
For Mustapha Bakkuri, President Masen, "to exchange the experience that Masen has developed and initiated the dynamism of competitive development of renewable energies on the African continent, aims to create the reality of renewable energies." Inclusive raster driver "This partnership with the African Development Bank is definitely a means of realizing these ambitions. "
Together, we will speed up our efforts to electrify Africa
The sign of the importance of this new agreement was present at the signing ceremony of the Moroccan Minister of Economy and Finance Mohamed Benchabuna, as well as the President of the General Confederation of Morocco (CGEM) Salaheddine Mezouar. Among them were Moroccan banking administrator Abdelmajid Mellouki, North African General Director Mohamed El Azizi, and Leila Mokaddem, the country's director of Morocco.
"Our expertise must be able to shine on the whole continent," said Mohamed Benchaaboun, who emphasized that this "partnership between Masen and the Bank reflects South-South cooperation."
A key partnership that Salaheddin Mezouar welcomed: "Today, the African Development Bank sets an example. And as Africans, we can only be proud of it."
For the Bank, this partnership represents a concrete expression of the desire to further strengthen the excellent cooperation it has with Morocco. With more than a billion dollars in commitments, renewable energy projects (solar, wind and hydroelectric) account for around 80% of the Bank's energy portfolio. in the Kingdom.
The African Development Bank is the main financial contribution to the Noor Ouarzazate solar panel (bit.li / 2vaVKSHA) Noor Ouarzazate I (160 MV), which has invested almost 30% of the total investment costs. The institution also contributes to the financing of Noor Ouarzazate II (200 MV) and Noor Ouarzazate III (150 MV).
Morocco has an ambitious goal of increasing the share of renewable energies in its energy mix to at least 52% by 2030. The Kingdom intends to share its model of the development of renewable energy sources with Africa in order to help accelerate its energy transition in the context of sustainable and inclusive growth, and is particularly involved in 13 cooperating with African countries in the field of renewable energy sources, 5 of which refer to the scope of " Desert to Pover ".
In a broader sense, this operation contributes to the realization of Nev Deal for Energy in Africa (bit.li / 2AREiGZ), which intends to set up a total production capacity of 10 GV from renewable energy sources on the horizon. 2025.
The signing ceremony was held on the first day of the first African Investment Forum (AIF), an initiative by 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 investments, as well as mediation fees, and tracking transactions until completion. This premier investment market in Africa is held in Johannesburg, South Africa, until November 9, 2018.