In a regional first, Morocco’s state-run electricity and water utility, ONEE, has secured a €300 million sustainability-linked loan from the European Bank for Reconstruction and Development (EBRD).
The loan, tied directly to environmental targets, is the first of its kind in the MENA and African energy sectors.
The funding aims to help ONEE reduce carbon intensity and increase the share of renewables in Morocco’s energy mix, in line with national goals to reach 52 percent renewable capacity by 2030. The deal includes an additional €4 million grant to support short-term debt refinancing.
The EBRD will also assist ONEE with a decarbonization strategy, climate governance, and digital upgrades to optimize grid performance. The initiative aligns with Morocco’s commitment to carbon neutrality by 2050 and confirms its leadership in clean energy transition.
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