InitiativesEBRD Commends Maghreb Industries’ Solar Energy Transition

Initiatives

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12 Oct

EBRD Commends Maghreb Industries’ Solar Energy Transition

London, 12/10/2017 (MAP) – The European Bank for Reconstruction and Development (EBRD) commended, on Thursday, the successful experience of the “Maghreb Industries” company, a leading confectionery and chewing-gum producer, which adopted solar energy in its production.

In 2015, EBRD loaned the company €4.6 million loan to fund the construction of the new factory to implement a range of renewable-energy and energy-efficient technologies.

The solar plant is producing up to 60 per cent of the factory’s energy needs, decreasing the firm’s reliance on gasoline and expensive grid electricity. Air treatment — which accounts for 40 per cent of the factory’s energy consumption — is now much more efficient and cost-effective, thanks to the cold storage system.

Owing to these measures, Maghreb Industries is enjoying not only lower energy bills, but also a smaller carbon footprint.

Maghreb Industries is poised to continue benefiting from these efficiencies as it ramps up production to meet its 60 per cent sales-growth target by 2020.

Morocco is a founding member of the EBRD and became a country of operations in 2012. To date, the Bank has invested over €1.2 billion in over 30 projects in the country. The Bank has also supported more than 340 Moroccan small and medium-sized enterprises by providing business advisory services.

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