Masdar signs renewables deal with Moroccoon Jan 21, 2013
Masdar has signed a framework agreement with Morocco's Ministry of Energy, Mines, Water and Environment to co-operate on renewable energy schemes.
The deal is the latest to emerge from last wek's World Future Energy Summit and follows the signing of similar agreements with France and the Hashemite Kingdom of Jordan.
Morocco has set itself a target of generating42% of power from renewable sources by 2020, and Masdar's CEO Dr Sultan Ahmed Al Jaber said the country was "an ambitious supporter of the adoption of renewable energy projects".
"By capitalizing on its abundant solar and wind energy resources, Morocco is establishing a strong renewable energy industry that will drive economic development and diversify its energy portfolio.
"We look forward to contributing to the development of Morocco's renewable energy industry."
Morocco's minister of Energy, Mines, Water and Environment, Fouad Douiri, said: "With tremendous wind and solar resources, Morocco has already strong and concrete achievements in solar and wind capacity, thanks to its experienced local skills and within an attractive legal and regulatory framework.
"As a country focused on the development of its renewable energy, we see major benefits in building a valuable cooperation with renewable energy players.
"Masdar's portfolio of regional and international projects, combined with their experience in renewable energy project development and research and development activities, makes it a partner of excellence in renewable energy cooperation," he added.