COP27: Morocco & European partners agree on sustainable electricity trade roadmap
Morocco and its European partners (France, Germany, Portugal and Spain) have sealed the “Sustainable Electricity Trade Roadmap” on the sidelines of the COP27 climate change summit taking place in Sharm El Sheikh, Egypt.
The five countries recognize the benefits of regional electricity market integration. This ambitious plan had been disclosed during COP22 held in Marrakesh in 2016.
The initiative aims to facilitate the ‘mutually beneficial’ exchanges of renewable electricity between Morocco and the four EU countries through the gradual integration of their electricity markets.
The project for sustainable electricity trade (SET) between Morocco and the European internal energy market is supported by the European Union and the Union for Mediterranean.
The goal is to facilitate cross-border trade from producers of renewable electricity to corporate consumers of that electricity, under power purchase agreements (PPA) within the SET countries.
According to experts, importing electricity from countries with great solar and wind resources helps to reduce costs for corporate consumers and cut the prices of their products to individual consumers.
After setting out a clear pathway for electricity exchanges and identifying investments, processes and procedures for sustainable electricity trade, the five partner countries expect strong interest from companies which consume large amounts of electricity and from renewable energy companies.
Commenting the agreement, Moroccan minister of energy transition Leila Benali said the deal shows the common will of the five countries for the exchange of clean energy.
The move, which is part of the EU-Morocco Green partnership, comes to support the various measures taken on both shores of the Mediterranean basin to encourage production and consumption of clean energy, she added.
The EU-Morocco Green Partnership signed in October is the first such deal that the EU signed with a partner country. It aims to advance the external dimension of the European Green Deal through action on the ground. Work will be developed across three main thematic axes: climate and energy; the environment including marine and maritime issues; and the green economy.
The Partnership will also look at ways to bridge Europe and Africa by joining forces with other countries and partners. It is expected to become a model for similar partnerships on the African continent, where Morocco already leads in terms of environmental and climate ambitions.
