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Thursday, May 30, 2024

Togo: AFIS 2022 Highlights Morocco’s Experience in Financing Energy Transition

Morocco’s experience in financing energy transition was highlighted in Togo’s Lomé as part of the Africa financial industry summit (AFIS), held on November 28 and 29.

During a panel on COP27, Attijariwafa Bank CEO Mohamed El-Kettani said Morocco has been able, thanks to HM the King’s vision, to achieve its goal of an energy mix of 42% in 2020, adding that the Kingdom has given itself a new course by 2030, that of an energy mix of 52%.

“Morocco’s vision has been based on an institutional and regulatory framework to give visibility to foreign investors and allow financial actors, development banks and insurance companies to mobilize the necessary funds to accompany this dynamic,” said El-Kettani.

Thanks to the law on public-private partnerships and the institutional framework that provides legal security to international investors, “we were able to mobilize in local currency and currency relatively interesting funds to accompany this dynamic implementation of capacity in terms of renewable energy.”

“This experience was a success. Today the Moroccan wind farm is the first capacity at the level of the African continent, while the solar park is the first solar power plant that has been operated through the mobilization of funds in local currency,” he explained.

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