Financial Boost for Morocco's Renewable Energy

SUPPORT for Morocco's renewable energy sector in the shape of a loan of up to €35 million is being made by the European Bank for Reconstruction and Development (EBRD).

The loan is being made to the Office National de l’Electricite et de l’Eau Potable (ONEE), who will use the funds to finance a rehabilitation programme of 12 small and medium-sized hydropower plants and the refurbishment of safety elements. The overhaul will contribute to the extension of the lifespan of the plants and improve their energy efficiency.

Thanks to technical cooperation funded by the Government of Austria, the investment takes into account the risks to hydropower operations resulting from climate change and corresponding climate resilience measures.

The project will also provide support to the adoption of environmental and hydrological best practice and enhance the management of the country’s water resources, which are highly exposed to climate change risks.

Laurent Chabrier, the EBRD Director for Morocco, said: “Investing in renewable energy is a priority for the EBRD in Morocco. Extending the lifespan of the country’s hydropower plants in a most environmentally friendly way and increasing their efficiency is crucial to building climate resilience and mitigating risks associated with climate change.”

Bouchra Abderrahim, ONEE Director of the Technical Division, said: “Our project is of great importance as it falls within the framework of our National Energy Strategy which aims to promote renewable energies. This project has far-reaching objectives at different levels: the social, safety, environmental and technical. Let’s act together, public and private partners, to achieve it.”

Picture of Afourer Pumped Storage Station Morocco reproduced under CCL.

Monday 9th November 2015

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