Abu Dhabi, United Arab Emirates: Today, the International Renewable Energy Agency (IRENA) signed a strategic agreement with the Ministry of Energy, Mines and Environment of the Kingdom of Morocco, with the aim of strengthening joint cooperation between the two parties to advance renewable energy expertise and accelerate the transformation of the energy sector. The agreement focuses in particular on the close cooperation between the two parties to advance the hydrogen economy in the Kingdom, which seeks to become a major producer and exporter of green hydrogen.
Morocco is at the forefront of countries in the region seeking to achieve transformation in the energy sector. The Kingdom has succeeded in raising the ceiling of its renewable energy ambitions after deciding to increase the contribution of the total installed renewable energy capacity to more than 52% by 2030 – exceeding its target stated in the Paris Agreement on Climate Change.
In this regard, the Director-General of the International Renewable Energy Agency, Francesco La Camera, said: “The Kingdom of Morocco has shown a clear leadership in promoting the deployment of renewable energy to meet the increasing demand for energy, as well as creating new industrial opportunities in various parts of the country. It is no wonder that this leadership extends to include the pursuit of Behind green hydrogen, which could play a critical role in achieving global decarbonization ambitions, the agency will work closely with Morocco to support local ambitions and allow for a global exchange of knowledge and expertise.
For his part, Moroccan Minister of Energy, Mines and Environment, Aziz Rabbah, said: “Morocco has played an important role in global renewable energy diplomacy through the agency since the latter’s establishment, and we will continue to encourage the use of renewable energy sources in support of sustainability issues and combating climate change at the regional and global levels.”
“The signing of this agreement is a testament to the excellent cooperation relations between Morocco and the International Renewable Energy Agency, and we will continue to strengthen our joint efforts aimed at accelerating the transformation of the sector,” the Minister added.
Under the agreement, the agency and the Moroccan Ministry will collaborate to develop technology studies and market forecasts, formulate public-private hydrogen cooperation models, explore the possibility of developing new value chains for this energy source, and pave the way for green hydrogen trade at national and regional levels.
The two parties will also conduct joint analyzes highlighting the social and economic benefits of renewable energy, with a focus on developing new value chains, creating local jobs, and lessons learned in the region in general. Building on the global mission of the International Renewable Energy Agency, Morocco looks forward to strengthening frameworks for South-South cooperation through peer and expert information exchange, knowledge sharing, and strengthening regional initiatives.
More broadly, the International Renewable Energy Agency and Morocco will cooperate to strengthen policies and regulatory frameworks for the deployment of renewable energy and mechanisms to promote energy efficiency in the Kingdom. The two parties will also promote renewable energy investments, including climate finance, by developing strong project prospects through enhanced banking services and facilitating access to financing opportunities, including in the context of the Alliance for Sustainable Energy initiative and the Platform climate investment
In cooperation with the European Commission, Morocco participated earlier this year in supporting the Cooperative Framework on Green Hydrogen launched by the International Renewable Energy Agency to address challenges related to developing the infrastructure, technologies and credits needed to build a green global economy and pave the way for green hydrogen trade.
According to the International Renewable Energy Agency, the total installed renewable energy capacity in the Kingdom of Morocco reached 3.5 gigawatts by the end of 2020.
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© Press Release 2021