First Independent Mena Newspaper
Morocco exported 851 Ghw of electricity in 2021, worth 565 million dirhams ($60 million), as it continues to diversify its energy mix away from fossil fuels, the treasury said. Electricity exports were up 700% compared to a year earlier while imports grew only 20% to 688 Gwh, the treasury said in a recent report. The […]
The Egyptian government is set to dedicate 30% of the new budget for green investments, as compared to 15% in FY 2021/2022, minister of Finance said. Mohamed Maait also indicated that Egypt is planning to raise green investments under the FY 2024/2025 budget to 50%, Arab Finance reports. Egypt has embarked on the development of […]
CEO of Algeria’s oil and gas company Sonatrach Toufiq Hakkar said on Feb 27 his country was ready to tap the potential of a 10 cubic meter pipeline to Italy, but a day later he backtracked on his promise casting doubt on Algeria’s limited gas production capacity, in a volte-face that indicates a fear of […]
The Rissana offshore zone, located in the immediate vicinity of that of Lixus, off Larache, where large gas reserves were discovered last January, has been awarded to the British company Chariot. The Africa focused transitional energy company Chariot announced this Monday February 28 that it has been formally awarded the Rissana Offshore Licence for gas […]
The outbreak of war in Ukraine has put Europe’s energy security under a new test as Germany halted the Nord Stream 2 Baltic Sea gas pipeline project with Russia, leaving few long-term gas supply options, chief among which is the Moroccan-Nigerian pipeline project. The $11 bln Nord Stream 2 pipeline was intended to double gas […]
Tunisia will benefit from the African Development Bank’s (AfDB) Leveraging Energy Access Finance Framework (LEAF) program to promote investment in decentralized renewable energy backed by the Green Climate Fund. With a commitment of $164 million, the Abidjan-based bank will help scale up decentralized renewable energy (solar home systems, green mini-grids, and solar solutions for commercial […]
The European Bank for Reconstruction and Development has approved loans totaling €50 million to two Moroccan banks, namely “Crédit du Maroc” and “Société Générale Maroc” (SGMB), destined to boost Morocco’s green transition. The loan agreements were signed at the EU-Africa Business Forum in Brussels, co-organized by the European Commission, the African Union Commission, and African […]
Morocco and Finland have signed an agreement meant to foster their cooperation in the energy sector. The document was signed during a virtual meeting between the Minister of Energy Transition and Sustainable Development, Leïla Benali, and the Finnish Minister of Economy, Mika Lintilä, represented in Rabat by the Finnish Ambassador to Morocco, Pekka Hyvönen. The […]
The European Union will invest €1.6 billion in Morocco to promote the green and digital transition. This investment is part of the new European strategy, called Global Gateway, launched last December. The European Union will invest €1.6 billion (more than 17 billion dirhams) in Morocco. The announcement was made this Wednesday, February 9, 2022, by […]
Moroccan energy minister Leila Benali has confirmed news reported last year that the country will reverse the flow of a pipeline that used to channel Algerian gas to Spain via Morocco. Benali told Bloomberg that Morocco has invited LNG operators in Spain to bid for contracts that could last five years with the aim of […]