IRESEN, EBRD Team Up To Promote Green Investments in Morocco

Rabat – The European Bank for Reconstruction and Development (EBRD) and the Solar Energy and New Energies Research Institute (IRESEN) are joining forces to promote investments that would accelerate Morocco’s green energy transition. through a Memorandum of Understanding (MoU) agreement signed in Rabat on Tuesday.

During a meeting in Rabat on Tuesday, representatives from the two parties signed a Memorandum of Understanding (MoU) that covers a wide range of areas, including renewable energy, smart grids, energy efficiency, energy storage, and sustainable transportation, according to a joint statement.

“We are very proud to join forces with IRESEN to strengthen our commitment to Morocco’s green transition. Meeting the climate challenge is not an option, but an obligation,” said Antoine Sallé de Chou, Director of the EBRD in Morocco. “It is therefore important to explore all credible clean energy technologies to accelerate the country’s green energy transition. This is the subject of our memorandum today.”

EBRD Managing Director for Green Economy and Climate Change, Harry Boyd-Carpenter said, “the Bank is fully committed to supporting the development of green hydrogen value chains.”

“In combination with competitive renewable electricity, green hydrogen is a key ingredient to accelerate decarbonization and has great potential in North Africa. We are very happy to start our cooperation with IRESEN today,” he further noted.

IRESEN Director General Badr Ikken reiterated the institute’s gratitude for the new agreement to support Morocco’s energy transition, noting that the agreement was signed as a testament to the IRESEN teams’ attempts in the past 10 years to support Morocco’s energy strategy through research and innovation.

He explained that the “ partnership further proves that the decarbonization of our economies also involves the development and adoption of sustainable technological solutions adapted to our context. This is the main objective of this alliance between the EBRD and IRESEN.”

With direct and indirect financing as well as initiatives that promote political dialogue, the EBRD supports the decarbonization of the Moroccan energy mix and the country’s green and sustainable energy.

Morocco has in recent years and months received plaudits for its ambitious clean energy policy. The country has announced plans to generate more than 52% of its electricity from renewable sources by 2030 and is already a regional leader in sustainability initiatives.