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Sunday, May 26, 2024

Circular economy: Masdar Energy will invest more than 100 MDH in an innovative project

Masdar Energy, the Emirati company known for its significant investments in renewable energy and sustainable technologies in the Middle East is finally making its debut in Morocco, after more than a decade of exploration and planning.

The Abu Dhabi-based company is preparing to launch an industrial project in the Rabat region, focused on the treatment and recovery of plastic waste. Developed by its subsidiary Masdar Energy, this pioneering project should invest more than 100 million Dh in financing and create more than 200 direct and indirect job opportunities. This initiative, with an installed capacity of 800 MW, was awarded to Masdar as part of a consortium selected by MASEN for its design, financing, construction, operation and maintenance. Although the current project in Morocco is smaller than Masdar’s initial ambitions, it is still seen as a milestone for the company’s entry into the Moroccan market.

Previously, the company was mainly involved in the production of green electricity independently or through consortia. It has been recognized for its participation, alongside the French company EDF Renouvelables and the Moroccan company Green of Africa, in the Noor Midelt I project. Recently, the company signed a memorandum of understanding with three African countries: Angola, Uganda and Zambia. The objective of these agreements is to collaborate in the development of production projects of electricity from renewable energies. Soon after, Masdar entered into a joint agreement with SOCAR, Azerbaijan’s state-owned petroleum products distribution company, to invest in green hydrogen projects.

Masdar’s foray into Morocco is a remarkable step forward, not only for the company itself, but also for Morocco’s growing interest in renewable energy and sustainability. With its track record of successful projects and commitment to environmental protection, the company is poised to have a significant impact on Morocco’s ongoing efforts to tackle plastic waste and strengthen its manufacturing sector. renewable energies.

Founded in 2006, Masdar, Abu Dhabi’s energy company of the future, is a global leader in renewable energy and sustainability. It aims to help maintain the UAE’s leadership in the global energy sector, while supporting the diversification of its economy and energy sources for the benefit of future generations.

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