Spanish Firms Eye Morocco’s Booming Renewable Energy Sector

Spanish companies including Fomento do not want to miss the opportunity to invest in renewable energies in Morocco. At the initiative of ICEX in Morocco (Rabat and Casablanca), about ten Spanish entrepreneurs will participate on October 25 in Rabat in a conference to better understand the sector and establish contacts with public and private actors in the kingdom. It will bring together the main Moroccan institutions in the sector, namely MASEN, IRESEN, FENELEC, UNEF and GAIA.

"The current energy crisis marked by the rise in electricity prices is a great opportunity to establish or resume direct contact with the most representative public and private counterparts in the energy sector in Morocco, for future projects in the country or in Africa," José María Blasco, director of infrastructure, health and ICT at ICEX, told El Español-Invertia.

The conference will be followed by a trade mission that will take place from October 26 to 27. It will consist of personalized meetings at the headquarters of Moroccan companies in the energy, industrial or agricultural sectors, mainly based in Casablanca. The two countries hope to benefit from these business meetings, considering the expertise of Spanish companies in solar thermal and wind power and Morocco’s great potential.

Morocco developed a plan to promote renewable energies in 2009, the implementation and monitoring of which was entrusted to the Moroccan Agency for Solar Energy (MASEN). With the 2016 reform, the National Office of Electricity and Drinking Water (ONEE) is responsible for the production, transmission and distribution of non-renewable energy, and MASEN, for the production of renewable energies. By 2030, Morocco aims to reach a production capacity of 50% renewable energies.