Morocco's successful experience in renewable energies is garnering attention from African countries as they seek to replicate its achievements. Akinwumi Adesina, President of the African Development Bank (AfDB), praised Morocco's efforts during the AfDB annual meetings in Sharm el-Sheikh, Egypt. Under the theme “Mobilizing Private Sector Financing for Climate and Green Growth in Africa,” Adesina highlighted Morocco's ambitious pursuit of renewable energy to fuel its economic development.
Adesina specifically mentioned the Noor Ouarzazate complex, which stands as one of the world's largest solar parks, as an inspiring model for the AfDB's “Desert to Power” project. This initiative aims to harness the abundant energy sources in the Sahelian region to provide power to 250 million people. Morocco's achievements in renewable energy, including the Noor Ouarzazate complex and the Noor Midelt solar project, have solidified its position as a role model in the sector.
See also: Morocco's Commitment to Renewable Energy Progression and Leading Role in Green Hydrogen Development
Adesina expressed the AfDB's pride in Morocco's renewable energy advancements and reaffirmed the Bank's commitment to supporting the country's energy transition through public-private partnerships. The AfDB has been actively supporting various private sector projects in Morocco, particularly in agriculture and industry, by providing lines of credit to banks. Adesina emphasized the collaborative efforts with the OCP group to enhance fertilizer access in Africa, further highlighting the Bank's dedication to sustainable development across the continent.
The 58th Annual Meetings of the AfDB focus on mobilizing private investment to address Africa's pressing climate change adaptation and mitigation needs. The Moroccan delegation, led by Minister of Economy and Finance Nadia Fettah, is actively participating in the event. As the AfDB Governor for the Kingdom of Morocco, Fettah is engaging in the Governors' Dialogue, which explores the transformation of the international financial architecture and its potential impact on multilateral development institutions' crucial role.
See also: Germany's Renewable Energy Investment Drives Growth in Morocco's Sustainable Energy Sector
During the meetings, Nadia Fettah is expected to hold bilateral discussions with her counterparts from other participating countries. These talks provide an opportunity to strengthen cooperation and foster mutually beneficial initiatives that contribute to sustainable development and economic growth in the region. Morocco's experience in renewable energy serves as an inspiring example for African nations seeking to harness their own abundant natural resources for a greener and more prosperous future.
