- NTPC and Moroccan Agency sign MoU for cooperation in the RE sector.
- The agreement was signed at the 17th CII EXIM conclave on the India-Africa growth partnership.
According to the Ministry of Power, the Moroccan Agency for Sustainable Energy and NTPC has signed a memorandum of understanding (MoU) for cooperation in the renewable energy sector. The agreement was signed at the 17th CII EXIM conclave on the India-Africa growth partnership, held in New Delhi from the 9th to the 20th of July 2022. Several African countries were represented at the conclave, and discussions were held to promote investment and collaboration between Indian and African companies in various African sectors.
The Memorandum of Understanding (MoU) between NTPC Ltd and the Moroccan Agency for Sustainable Energy (Masen) promises to pave the way for the joint development of utility-scale renewable energy projects in Africa.
This collaboration is intended to support capacity-building services and share experience, know-how, and expertise in areas of mutual interest, particularly in research and development. According to the Ministry of Power, the collaboration could see NTPC and Masen exploring joint development opportunities for renewable energy power projects in other African countries.
Masen, founded in 2010, is in charge of piloting renewable energy in Morocco. By 2021, 4109 MW of wind, hydro, and solar capacity will be operational. The Masen Group places renewable resource development at the heart of its strategy to create an inexhaustible force of economic, social, and environmental development for Morocco and beyond.
The CII-Exim Bank Conclave on India-Africa Project Partnership was established in 2005 with the support of the Government of India’s Ministries of External Affairs and Commerce and Industry. The Conclave has been critical in encouraging Indian companies to establish and expand their footprints in Africa over the last sixteen editions.