Tuesday , January 26 2021

AfDB and Masen launch the "Desert to Power"

The objective of this partnership is to support African countries, especially those in the Sahel region, targeted by the "Desert in Power", in the development of renewable energy technologies.

African Development Bank Group (AfDB.org), Akinwumi Adesina and President Masen (Masen.ma) (The Sustainable Energy Agency of MoroccoMustapha Bakkoury, on 7 November 2018, signed a letter of intent confirming their 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 aim of this partnership is to support African countries, especially those in the Sahel region, targeted by "Desert in power", in developing renewable energy technologies that best fit their natural conditions and needs. specific energy.

The aim is to combine Masen's expertise in the development of renewable energy projects with the operational development of the African Development Bank in this sector, in particular as regards the exchange of know-how, experience, technical assistance, development of renewable energy projects and mobilizing the necessary resources.

"Morocco is an example in the field of renewable energy," Akinwumi Adesina, chairman of the African Development Bank, when ratifying the agreement, said. "When I visited the Noor Ouarzazate (bit.ly/2qwvLo5) complex, where the Bank invested massively, what fascinated me was that it was done with Moroccan capabilities. It is proof that Africa can do wonderful things with an international field. He added, "We have therefore asked Morocco to support us in the" Desert to Power "initiative we are developing in the Sahel. It is a strategic partnership that combines leadership and technical expertise. Together, we will accelerate efforts to electrify Africa. "

For Mustapha Bakkoury, Masen's president, "to share the experience that Masen has developed and to initiate a competitive development dynamic for renewable energies on the African continent" aims to make the realities of renewable energies. including the growth factor. This partnership with the African Development Bank is a clear advantage for achieving this ambition. "

Together we will accelerate efforts to electrify Africa

The signing of the importance of this new agreement was at the signing ceremony of the Moroccan minister of economy and finance, Mohamed Benchaaboun, as well as the President of the General Confederation of Enterprises of Morocco (CGEM) Salaheddine Mezouar. In addition, the Moroccan bank administrator, Abdelmajid Mellouki, Mohamed El Azizi, general manager for North Africa, and Leïla Mokaddem, Moroccan Country Director, were included.

"Our expertise must 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 welcomed in turn: "Today, the African Development Bank is an example, 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 its excellent cooperation with Morocco. With over 1 billion dollars of commitment, renewable energy projects (solar, wind and hydroelectric) account for about 80% of the bank's energy portfolio. in the Kingdom.

The African Development Bank was the main financial contributor of Noor Ouarzazate Noor Ouarzazate I (160 MW), which contributed nearly 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 goal to increase the share of renewable energies in its energy mix to a minimum of 52% by 2030. The UK aims to share its renewable energy development model with Africa in order to help accelerate its energy transition in the context of an increase sustainable and inclusive growth, in particular 13 cooperation with African countries in the field of renewable energies, of which 5 are related to the Desert to Power domain.

In general, this operation contributes to the implementation of the new energy agreement in Africa (bit.ly/2AREyGZ), which in particular intends to install a total production capacity of 10 GW of renewable energy on the horizon. 2025.

The signing ceremony took place on the first day of Africa's First Investment Forum (AIF), an Africa Development Initiative to accelerate the implementation of Africa's development projects. catalyst in Africa and involving the private sector. This by reducing the risks associated with large-scale investments as well as brokerage fees and by monitoring transactions to completion. This premier investment market in Africa takes place in Johannesburg, South Africa, until November 9, 2018.

Source link