Home / Finance & Economy / Renewable electricity: Morocco signs a joint declaration with 4 European countries

Renewable electricity: Morocco signs a joint declaration with 4 European countries

Germany, Spain, France, Morocco and Portugal signed a joint declaration this week in Brussels, which sets the framework for facilitating cross-border trade in renewable electricity between producers and private consumers.

Initialed in the presence of the European Commission, the Union for the Mediterranean and the Moroccan Agency for Sustainable Energy (MASEN), this new declaration confirms signatories’ willingness to remove regulatory barriers. It also details the action plan to facilitate cross-border trade between producers of renewable electricity and companies consuming this electricity, markets known in Europe under the name Green Corporate PAA, says a statement from Masen.

On this occasion, MASEN President Mustapha Bakkoury announced his commitment to create the conditions for an integrated electricity market between Morocco, Germany, Spain, France and Portugal. “This declaration allows us to work together to create a framework conducive to transnational business-to-business contracts for the commercial exchange of renewable electricity,” he said, noting that 12 months, “we will ensure that the rules and procedures necessary for the establishment of cross-border PPPs are formalized in the form of a Memorandum of Understanding (MoU) between the five countries”.

A consultation exercise will be launched in 2019 with potential producers and potential buyers of renewable electricity in the five countries. This signature is a continuation of the work undertaken in the framework of COP 22 in Marrakesh, which hosted the signing of a joint declaration for the establishment of the renewable electricity exchange roadmap between Germany, Spain, France, Morocco and Portugal.

Check Also

Drought: Dams in Morocco filled to 39.7% against 49% a year ago

The reservoirs of the main national dams have reached, to date, more than 6.19 billion …

Leave a Reply