Italian renewables developer Enel Green Power SpA (BIT:EGPW) is planning to expand business in Morocco, CEO Francesco Venturini says.
“Morocco has been a renewable energy pioneer in North Africa, establishing challenging targets and promoting a stable and clear regulatory framework for the development of renewables. We have already set foot in the country, establishing a local headquarters, and now we are aiming to grow by installing megawatts and contributing to the achievement of the country’s ambitious energy targets.”, Venturini told a business conference in Rabat, as part of Italian economic development minister's mission in Morocco in mid-September.
Morocco is one of the North African countries that Enel Green Power is targeting for its future development, as highlighted in the company’s 2015-2019 strategic plan. The Italians opened a representative office in Casablanca in May this year to step up local activities.
The growth strategy of Enel Green Power for Morocco includes participation in renewable energy public tenders organised by public utilities such as the national electricity and water utility company ONEE and the Moroccan agency for solar energy MASEN, as well as the development of renewable energy projects as an independent power producer, in line with Morocco’s 13-09 Law on Renewables.
In the short term, the Italian company is bidding in the 850 MW wind power tender which ONEE expects to finalise in several weeks time. Enel has been pre-qualified for the project, together with its partners for the bid -- Nareva Holding, a unit of the royal SNI holding company and Siemens Wind Power.
The 850 MW project, which is estimated to cost EUR 1 billion (USD 1.1 bn), represents a significant contribution to the national wind power programme for 2000 MW by 2020.
Renewable energy currently makes up around 2.6 GW or 34% of Morocco’s 7.6 GW of total installed capacity. The African country wants to source 42% of its energy needs from renewables by 2020 and has undertaken an integrated programme to increase its wind and solar power capacities to 2 GW each by 2020.
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