Rabat – Norwegian Empower New Energy will spend $2 million (MAD 19 million) to supply Morocco’s largest poultry group Zalar Holding’s with solar electricity.
The Norwegian business will work with Morocco’s renewable energy company Jet Energy to install solar panels at four of Zalar Holding’s plants. It is the first time the Norwegian company has invested into a project in the North African country.
The total investment in the four solar plants is estimated to reach $2 million (MAD 19 million) and is expected to generate around 3,800 MWh of energy per year for a period of 16 years. The solar panels are being installed in a bid to reduce Zalar’s CO2 emissions to around 3,000 tonnes a year.
The solar panels will be installed on the roof of Zalar’s plants in ELDIN Had Soualem, Agro Industrielle Al Atlas Tit Mellil, Banchereau Maroc Mediouna, and Al Alf Fes, according to a press release.
Empower CEO Terje Osmunden said that the project is expected to create 100 jobs.
“By minimizing the time and resources required to finance projects of this nature, we demonstrate how our investment fund enables a faster uptake of clean energy production in North Africa,” Osmunden added.
Meanwhile, Norwegian Ambassador to Morocco Sjur Larsen expressed his joy to see Empower partnering with Moroccan industrials, emphasizing it will bring a “reliable financing model for solar investments in Morocco.”
Larsen further stressed that such partnership could be a model for future opportunities and growth in line with Morocco’s energy transition plan, while expressing his wish to see more Norwegian companies collaborating with their Moroccan counterparts.
CEO of Zalar holding Siham Benhamane said that the company aims to achieve a measurable impact on affordable, reliable, and clean energy.
“Solar photovoltaic is the ideal solution for energy-users who wish to secure a competitive cost of electricity over the long term while improving their carbon footprint,” said CEO of Jet Energy Ismail Tadlaoui.
Read Also: Morocco Consolidates Cooperation with International Energy Agency
