EBRD and IRESEN to develop renewable energy sector in Morocco
Published by Bella Weetch,
Editorial Assistant
Energy Global,
The European Bank for Reconstruction and Development (EBRD) and the Moroccan Research Institute for Solar Energy and New Energies (IRESEN) are joining forces to boost energy transition.
In a MoU, signed in Rabat, Morocco, the EBRD and IRESEN resolve to strengthen their co-operation in the promotion of investments aimed at accelerating the country’s transition to green energy. The scope of the co-operation will cover a number of areas of common interest, including green hydrogen, renewable energy, smart electricity networks, energy efficiency, energy storage and e-mobility.
Morocco is recognised as having a very ambitious strategy for scaling up renewables (the country has committed to reaching, by 2030, a level where renewable sources account for more 52% of installed electricity production capacity) and regularly pioneering new green technologies. In Morocco, EBRD supports the decarbonisation of the Moroccan energy mix and the country's green and sustainable energy transition through direct and indirect financing and policy dialogue initiatives.
IRESEN was set up as a research institute in 2011 by Morocco’s Ministry of Energy, Mines and Environment and several key players in the energy sector to support the national energy strategy and enhance research and development in the field of solar energy, new energies and related technological applications.
Morocco is a founding member of the EBRD and became a country of operations in 2012. To date, it has invested almost €3 billion in the country through 74 projects.
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Read the article online at: https://www.energyglobal.com/special-reports/29092021/ebrd-and-iresen-to-develop-renewable-energy-sector-in-morocco/
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