Masdar and Moroccan Energy Ministry agree to Framework for Renewable Energy Cooperation
WAM Abu Dhabi, Jan 20th, 2013 (WAM) -- Masdar today announced the signing of a framework agreement with the Ministry of Energy, Mines, Water and Environment of the Kingdom of Morocco that will enable them to have a thorough cooperation in the field of renewable energy.
The agreement was signed during the sixth World Future Energy Summit (WFES), a global platform that addressed the future of renewable energy and sustainable development in the Middle East and the world.
With ambitious clean energy targets and large solar and wind power potential, Morocco is one of the Middle East and North Africa's most promising clean energy markets. Morocco's aim is to reach 42 percent of its total power capacity installed from renewable sources by 2020.
"Morocco is an ambitious supporter of the adoption of renewable energy projects," said Dr. Sultan Ahmed Al Jaber, CEO of Masdar, Abu Dhabi's renewable energy company. "By capitalizing on its abundant solar and wind energy resources, Morocco is establishing a strong renewable energy industry that will drive economic development and diversify its energy portfolio. We look forward to contributing to the development of Morocco's renewable energy industry." Fouad Douiri, Morocco's minister of Energy, Mines, Water and Environment, said: "With tremendous wind and solar resources, Morocco has already strong and concrete achievements in solar and wind capacity, thanks to its experienced local skills and within an attractive legal and regulatory framework. As a country focused on the development of its renewable energy, we see major benefits in building a valuable cooperation with renewable energy players, in particular with the industry.
"Masdar's portfolio of regional and international projects, combined with their experience in renewable energy project development and research and development activities, makes it a partner of excellence in renewable energy cooperation," added Fouad Douiri.