North African country, Morocco, signed agreements with an Emirati-Moroccan consortium for energy and water infrastructure projects, valued at over $14 billion, according to one of the companies involved.
The country and its state-owned National Office of Electricity and Drinking Water (ONEE) entered into three agreements.
These were signed with the Mohammed VI Public Investment Fund, Taqa Morocco—a subsidiary of Emirati energy giant Taqa—and Nareva, the energy arm of the royal holding company Al Mada.
These projects are designed to “strengthen both water security and energy independence” in Morocco, the signatories said in a joint statement.
Taqa Morocco, in a separate statement, disclosed that the total investment would reach nearly 130 billion dirhams (approximately $14 billion) by 2030.
The signed agreements cover the construction of a 1,400-kilometre (850-mile) high-voltage line to transport green electricity from the disputed territory of Western Sahara to Casablanca, as well as the development of seawater desalination plants.
Over the last 15 years, Morocco has made significant investments in renewable energy, which now accounts for 38% of its electricity supply.
The country aims to increase this to 52% by 2030.
Recently, the European Investment Bank (EIB), in collaboration with German bank KfW, granted a significant sum of $340 million (€300 million) to support Morocco’s efforts to integrate renewable energy into its national grid.
According to a statement by the EIB, the fund will also be used to expand the national electricity transmission network by 730 km, thereby increasing the grid’s transmission capacity.
The EIB further noted that the investments aim to enhance energy security, cut greenhouse gas emissions by 390,000 tonnes of CO2 equivalent annually by 2030, and drive economic growth across several regions.
Moreover, amid growing water stress, Morocco is turning to desalination to boost its water supply.
