The Moroccan Solar Energy Agency (MASEN) has signed a Memorandum of Understanding with the Islamic Development Bank (IsDB) to promote renewable energy in Africa.
According to a statement issued by MASEN, this agreement will make it possible “to benefit the different partner countries at the same time, the accompaniment and the expertise of the MASEN, but also the financial support of the IsDB and this, all throughout the different phases of development and implementation of renewable projects”.
The Moroccan organization has also signed a second agreement with ICIEC, the insurer of the Islamic banking group to set up a framework and tools to facilitate private investment in renewable energy in Africa.
“This partnership reflects the strong commitment of both institutions to play a major role in increasing access to electricity in IsDB member countries in Africa and in combating climate change,” said Mustapha Bakkoury, the president and CEO of MASEN.
In 2018, the agency signed a similar agreement with the African Development Bank.