The European Bank for Reconstruction and Development (EBRD) and the Solar Energy and New Energies Research Institute (IRESEN) signed, on September 28 in Rabat, a cooperation agreement to promote investments in green hydrogen, in order to accelerate the Kingdom’s green energy transition.
The cooperation will cover a number of areas of common interest, including green hydrogen, renewable energies, smart grids, energy efficiency, energy storage and sustainable mobility.
Harry Boyd-Carpenter, EBRD Managing Director for Green Economy and Climate Change, said in the same press statement, “the EBRD is fully committed to supporting the development of green hydrogen value chains. In combination with competitive renewable electricity, green hydrogen is a key ingredient to accelerate decarbonation and has great potential in North Africa. We are very happy to start our cooperation with IRESEN today.”
The Moroccan government published a new strategy on green hydrogen, last month, saying the country’s hydrogen economy could potentially support up to 4% of global demand targeted towards international markets.
The country’s favorable climatic conditions and previous investments in renewables could provide cleaner energy to power both the economy and everyday energy use, from household appliances to fueling fuel cells in cars and ships.
The European Bank for Reconstruction and Development (EBRD), which was founded in 1991 to “promote the transition to market economies” and “to promote private initiative and entrepreneurship, supports the decarbonisation of energy in Morocco as well as the country’s green and sustainable energy through direct and indirect financing and political dialogue initiatives.
Antoine Sallé de Chou, Director of the EBRD in Morocco, said in a press release received by Hesprees English, “We are very proud to partner with IRESEN to strengthen our commitment to Morocco’s green transition. Meeting the climate challenge is not an option, but an obligation. It is therefore important to explore all credible clean energy technologies to accelerate the country’s green energy transition. This is the subject of our collaboration today.”
For his part, Badr Ikken, Director General of IRESEN stressed in his press statement, “IRESEN welcomes this new agreement with the EBRD aimed at supporting the acceleration of the energy transition of the Kingdom. The agreement sealed today is a pledge of confidence in the work of IRESEN teams, for 10 years now, in supporting Morocco’s energy strategy, in terms of Innovation and capacity building.”
IRESEN is a research institute created in 2011 by the Ministry of Energy, Mines and the Environment and several key players in the energy sector in Morocco to support the national energy strategy and innovation in the field of clean technologies.
Morocco is known for being a regular pioneer of new technologies and energy strategy having as the Kingdom is committed to achieving by 2030 more than 52% of the installed electricity production capacity from renewable sources.
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