Morocco, Germany, Spain, France, and Portugal signed a Memorandum of Understanding (MoU) on the Sustainable Electricity Trade Roadmap “SET Roadmap” on the sidelines of the COP27 in Sharm el-Sheikh, Egypt.
This memorandum of understanding aims to strengthen the Kingdom’s strategic partnership with its European partners in the field of energy, and is part of the Sustainable Electricity Trade Roadmap (SET Roadmap), which was established by Morocco, France, Germany, Spain, and Portugal at the COP22 in Marrakech in 2016, and aims to open up renewable energy markets to each other.
It also follows the December 2018 signing of a joint declaration in Brussels outlining plans to remove commercial and physical barriers to corporate power purchase agreements (CPPAs).
The MOU will allow the 5 nations to continue working toward the integration of green electricity markets. Priority will be given to the development of cross-border green Corporate PPAs, which are bilateral contracts between producers and industrialists for the sale of renewable energy that are attracting increasing interest from large industrialists, including those in the European continent.
The signing ceremony was attended by Leila Benali, Minister of Energy Transition and Sustainable Development, Jochen Flasbarth, State Secretary at the Federal Ministry for Economic Cooperation and Development of the Federal Republic of Germany, Stephane Crouzat, French Ambassador in charge of climate change, renewable energies, and climate risk prevention, and Manuela Franco, Portuguese Ambassador to Egypt.
The ceremony was also attended by Álvaro Iranzo Gutiérrez, Ambassador of Spain to Egypt, Christian Berger, Ambassador Head of the European Commission Delegation to Egypt, Nasser Kamel, Ambassador Secretary General of the Union for the Mediterranean and Paul Noumba Um, Regional Director MENA for Infrastructure of the World Bank.
During this ceremony, Benali stressed that the signing of this memorandum of understanding marks the common desire of the five countries to promote the exchange on a larger scale of clean and environmentally friendly energy.
She added that the MoU is timely to support the various measures taken on both sides of the Mediterranean to encourage the production and consumption of clean energy.
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