The International Renewable Energy Agency (IRENA) and the Ministry of Energy, Mines, and Environment (MEME) of the Kingdom of Morocco have entered into a strategic agreement to strengthen their partnership in order to develop renewable energy knowledge and speed up the energy transition.
According to the agreement, Morocco and IRENA will collaborate closely to improve the country’s green hydrogen economy, to become a major green hydrogen producer and exporter.
The two parties will actively pursue green hydrogen studies and together explore policy mechanisms to involve the private sector at a national level in the green hydrogen economy, under the terms of the strategic agreement.
Furthermore, IRENA and MEME Morocco will collaborate to develop technology and market outlook studies, create public-private partnerships in the hydrogen space, investigate the development of new hydrogen value chains, and lay the groundwork for green hydrogen trading on a national and regional scale.
“The Kingdom of Morocco has shown great leadership in advancing the deployment of renewable energy to meet growing energy demand while creating new industrial opportunities across the country. It is only natural that this leadership be extended to the pursuit of green hydrogen, which may play a critical role in global decarbonization ambitions. Under this agreement, IRENA will work closely with Morocco to advance domestic ambition and create opportunities to share knowledge globally.”
His Excellency Aziz Rabah, Minister of Energy, Mines and Environment of Morocco said, “Morocco has played an important role in global renewable energy cooperation through IRENA since the Agency’s formation, and we will continue to promote and encourage the uptake of renewables in the context of climate change and sustainable development at a regional and an international level.”
“The signing of this agreement is an illustration of the excellent cooperation between Morocco and IRENA and we will continue to strengthen our joint efforts aimed at accelerating the transition,” the minister noted.
As per the reports, “The two parties will also conduct joint analyses that further explore the socio-economic benefits of renewables, emphasizing the development of new value chains, job creation at the national level and lessons learned to the broader region.”
IRENA and Morocco will work together to enhance the policies and regulatory frameworks for renewable energy deployment and energy efficiency applications in the Kingdom.
Furthermore, the two entities will promote renewable energy investments, including climate finance, through the development of solid project pipelines with improved bankability and the facilitation of access to finance, including in the context of Coalition for Sustainable Energy Access initiative and the Climate Investment Platform (CIP).