Masdar Energy, an Emirati company known for its significant investments in renewable energy and sustainable technologies across the Middle East, is finally making its debut in Morocco after more than a decade of exploration and planning.
The Abu Dhabi-based company is set to launch an industrial project in the Rabat region, focusing on the treatment and recovery of plastic waste. Developed by its subsidiary Masdar Energy, this pioneering project is expected to invest more than Dh100 million in financing and create more than 200 direct and indirect employment opportunities.
Previously, the company had mainly been involved in the production of green electricity independently or through consortia. It gained recognition for its participation, together with the French company EDF Renouvelables and the Moroccan company Green of Africa, in the Noor Midelt I project.
As reported by Challenge, this initiative, with an installed capacity of 800 MW, was awarded to Masdar as part of a consortium selected by MASEN for its design, financing, construction, operation and maintenance. Although the current project in Morocco is smaller than Masdar’s initial ambitions, it is still considered an important milestone for the company’s entry into the Moroccan market.
Recently, the company signed a memorandum of understanding with three African countries: Angola, Uganda and Zambia. The aim of these agreements is to collaborate in the development of electricity production projects powered by renewable energies. Shortly thereafter, Masdar entered into a joint agreement with SOCAR, the Azerbaijani state-owned petroleum products distribution company, to invest in green hydrogen projects.
Masdar’s foray into Morocco is a remarkable step forward, not only for the company itself, but also for Morocco’s growing interest in renewable energy and sustainability. With its track record of successful projects and commitment to environmental protection, the company is poised to have a significant impact on Morocco’s ongoing efforts to tackle plastic waste and strengthen its renewable energy sector.
Founded in 2006, Masdar, Abu Dhabi’s energy company of the future, is a global leader in renewable energy and sustainable development. Masdar means “source” in Arabic.
It aims to help maintain the UAE’s leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations.
The company develops commercial-scale renewable energy projects around the world. It drives innovation in clean technologies and is taking a smart approach as a pioneer in green hydrogen. It also provides industrial and knowledge platforms to stimulate further growth in the renewable energy and clean technology sector, creating new sources of long-term income.
Source : Atalayar
