The European Bank for Reconstruction and Development (EBRD) and the Moroccan Research Institute for Solar Energy and New Energies (IRESEN) have announced to pursue an ambitious plan to meet renewable and green energy goals set out by the Moroccan government.
The EBRD and IRESEN met in Rabat, on Sept. 29, to sign the “Memorandum of Understanding” in an effort to encourage further investment and innovation in the renewable energy industry.
“We are thrilled to partner with the EBRD in order to support the acceleration of the energy transition in Morocco.” Badr Ikken, Director General of IRESEN, said “The agreement sealed today is a pledge of confidence in the 10 years of work by IRESEN teams in supporting Morocco’s energy strategy, through research and development, innovation and capacity-building.”
While the EBRD is encouraging Morocco to continue its decarbonization, it is intending to provide assistance via direct and indirect funding, as well as policy dialogue initiatives.
Antoine Sallé de Chou, EBRD Director, Head of Morocco, said: “We are very proud to come together with IRESEN to reinforce our engagement in Morocco’s green transition. Addressing the climate challenge is not an option, but a must. It is therefore important to explore all credible clean-energy technologies that would further accelerate the country’s green-energy transition. This is what today’s memorandum documents.”
Morocco has been one of the driving forces towards steering the nation towards environmental sustainability. The IRESEN has been one of the main driving forces in reaching these goals. Created in 2011 by the Ministry of Energy, Mines and Environment and other leaders of the energy sectors.