Rabat – Morocco’s Moroccan Agency for Sustainable Energy (Masen) and India’s electricity production company NTPC Limited signed a deal today, seeking to strengthen renewable energy cooperation between the two companies.
The signing of the agreement took place in New Delhi on the sidelines of the 17th annual CCI Exim Bank Conclave on the India-africa Growth Partnership.
The agreement aims to boost capacities in the field of renewable energies and to “pool the experience and expertise of Masen and NTPC LtD., particularly in the field of Research and Development,” a statement from the Moroccan said.
The deal also aims to enable the two companies to explore common opportunities for the development of renewable energy projects in Africa.
Morocco is recognized as a power in terms of the renewable energy sector.
TAQA Net, a platform specialized in energy markets, said in a report in May that Morocco leads the African continent in terms of power plants.
The North African country also hosts mega renewable projects, including Morocco’s Ouarzazate Noor solar plant.
The hub seeks to boost Morocco’s National Sustainable Development Strategy, which the North African country adopted in 2017 to ensure its transition to a green and inclusive economy by 2030.
With its projects, Morocco aspires to produce over 54% of its electricity from renewable resources by 2030.
India is also a leader in the renewable energy sector. According to Invest in India, an Indian government website, the country ranks third in renewable energy country attractive index in 2021.
The country also ranked as the third largest energy consuming country across the world.
The Asian country aspires to achieve a capacity of 175 gigawatts worth of renewable energy by the end of this year. They also seek to expand this goal to 500 gigawatts by 2030.
