EBRD, IRESEN Ink MoU to Promote Green Investments in Morocco

Rabat – The European Bank for Reconstruction and Development (EBRD) and Research Institute for Solar Energy and New Energies (IRESEN) inked, Tuesday in Rabat, a memorandum of understanding to promote investments to boost the green energy transition of Morocco.

The scope of this cooperation will include green hydrogen, renewable energy, smart grids, energy efficiency, energy storage and sustainable mobility, according to a joint press release from EBRD and IRESEN.

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

Morocco has a very ambitious energy strategy as the country is committed to achieving more than 52% of installed electricity generation capacity from renewable sources by 2030, it is regularly pioneering new green technologies, the press release noted.