Green investment: A Protocol of Agreement Between BERD And the Research Institute For Solar Energy And Renewable Energy

The European Bank for Reconstruction and Development (EBRD) and the Moroccan Research Institute for Solar Energy and New Energies (IRESEN) have announced that they would work together to achieve the Moroccan government’s renewable and green energy targets.

On September 29, the EBRD and IRESEN met in Rabat to sign a “Memorandum of Understanding” to stimulate further investment and innovation in the renewable energy sector.

“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.”

Morocco’s government aims to convert 52 percent of the country’s electrical production capacity to renewable sources by 2030. Morocco has also pioneered a wide range of new green technology.

While the EBRD encourages Morocco to continue its decarbonization efforts, it also plans to help through direct and indirect finance as well as policy discussion activities.

“We are very delighted to come together with IRESEN to deepen our commitment in Morocco’s green transition,” stated Antoine Sallé de Chou, EBRD Director, Head of Morocco. Addressing the climate crisis is not a choice, but a need. As a result, it is critical to investigate all credible clean-energy technologies that could help the country accelerate its green-energy transition. This is the content of today’s memorandum.”

Morocco has been a major force behind the country’s transition to environmental sustainability. The IRESEN has been a major driving force in achieving these objectives. The Ministry of Energy, Mines and Environment, as well as other energy industry experts, founded the organization in 2011.

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