Israeli Renewable Energy Firms Eye Expansion into Morocco and Middle East Markets
Since the normalization of their relations, Morocco and Israel are working to develop their economic cooperation. Israeli companies operating in the field of renewable energies want to conquer the Moroccan market but also markets in the Middle East.
The Israeli companies Enlight Renewable Energy Ltd. and the natural gas producer NewMed Energy LP are considering jointly developing renewable energy projects in North Africa and the Middle East, including Saudi Arabia and Oman, reports Bloomberg.
"The company will exploit what we consider a very big opportunity in the region that started with natural gas, a development largely led by NewMed," said Gilad Yavetz, CEO of Enlight, to journalists during a conference call.
According to him, the companies aim to combine NewMed’s ties in the region with Enlight’s expertise in green energy. The official states that the company will target a market including Saudi Arabia, Morocco, the United Arab Emirates, Bahrain and Oman, as well as Jordan and Egypt, where NewMed - formerly known as Delek Drilling LP - is already an energy supplier.
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