The objective of this partnership is to support African countries, particularly those living in the Sahel region, the target of "Desert to Power", in the development of renewable energy technologies.
President of the African Development Bank Group (AfDB.org), Akinwumi Adesina, and President Masen (Masen.ma) (Moroccan Sustainable Energy AgencyMustapha Bakkoury, on November 7, 2018, signed a letter of intent confirming his 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 objective of this partnership is to support African countries, particularly those in the Sahel region, targeting the "Desert to Power", in the development of renewable energy technologies best suited to their natural conditions and needs. specific energy.
The objective is to combine Masen's experience in the development of renewable energy projects with the operational experience of the African Development Bank in this sector, particularly in terms of sharing know-how, training and experience, technical assistance, development of projects in renewable energies And mobilization of necessary resources.
"Morocco is an example of renewable energy," said Akinwumi Adesina, president of the African Development Bank, when it ratified the agreement. "When I visited the Noor Ouarzazate complex (bit.ly/2qwvLo5), in which the Bank invested heavily, what fascinated me was that it was made with Moroccan capabilities. It is proof that Africa can accomplish great things internationally. He added: "We therefore ask Morocco to support us in the" Deserte para Poder "initiative that we are developing in the Sahel. It is a strategic partnership that combines leadership and technical knowledge. Together, we will accelerate efforts to electrify Africa. "
For Mustapha Bakkoury, president of Masen, "sharing the experience that Masen has developed and initiating a competitive dynamic of developing renewable energies on the African continent is to make renewable energy a reality. Partnership with the African Development Bank is a well-defined one to realize this ambition. "
Together, we will accelerate efforts to electrify Africa
Signing the importance of this new agreement, the Moroccan Minister of Economy and Finance, Mohamed Benchaaboun, and the President of the General Confederation of Moroccan Companies (CGEM), Salaheddine Mezouar, attended the signing ceremony. Along with them were also the bank administrator of Morocco, Abdelmajid Mellouki, Mohamed El Azizi, director general for North Africa, and Leïla Mokaddem, country director for Morocco.
"Our expertise should be able to shine across the continent," said Mohamed Benchaaboun, who emphasized how this "partnership between Masen and the Bank reflects South-South cooperation."
A crucial partnership, which Salaheddine Mezouar hailed: "Today, the African Development Bank is setting the example. And as Africans, we can only be proud of that."
For the Bank, this partnership is a concrete expression of the desire to further strengthen the excellent cooperation that is being carried out with Morocco. With more than US $ 1 billion in commitments, renewable energy generation projects (solar, wind and hydro) account for about 80% of the Bank's energy portfolio. in the Kingdom.
The African Development Bank has been the main financial contributor to the Noor Ouarzazate I (160 MW) Noor Ouarzazate solar complex (bit.ly/2vaVXHA), contributing almost 30% of the total cost of the investment. The institution also contributes to the financing of Noor Ouarzazate II (200 MW) and Noor Ouarzazate III (150 MW).
Morocco has an ambitious target to increase the share of renewable energy in its energy mix to a minimum of 52% by 2030. The Kingdom intends to share its renewable energy development model with Africa in order to help accelerate its energy transition in the context of sustainable and inclusive growth, notably embodied in 13 cooperations with African countries in the field of renewable energy, 5 of which relate to the Desert Power.
More broadly, this operation contributes to the implementation of the New Deal for Energy in Africa (bit.ly/2AREyGZ), which aims in particular to install a total production capacity of 10 GW from renewable energy sources on the horizon. 2025.
The signing ceremony was held on the first day of the first African Investment Forum (IDA), an initiative of the African Development Bank to accelerate the implementation of development projects in Africa. catalyst in Africa and involve the private sector. This, reducing the risks associated with large-scale investments as well as intermediation fees, and tracking the transactions to completion. This main investment market in Africa takes place in Johannesburg, South Africa, until November 9, 2018.