Published on October 6th, 2015 | by Smiti5
Enel Green Power To Expand Into Morocco
October 6th, 2015 by Smiti
Italy’s renewable energy developer Enel Green Power is looking to increase investment in Morocco.
Enel Green Power considers Morocco a pioneer in the renewable energy sector in Africa, having set impressive capacity addition targets and backing them with clear regulations. Enel Green Power CEO Francesco Venturini stated that the company has already set up a regional headquarters in Morocco, and is now looking to invest millions of dollars to set up several megawatts of renewable energy capacity.
The company has announced plans to participate in the 850 MW wind energy tender floated by the country’s utility, ONEE, though Enel Green Power will face competition from Acciona, ACWA Power/Gamesa, EDF Energies Nouvelles/Alstom, among others.
Morocco is already working on some of the largest solar power project in Africa. The Noor-Ouarzazate project will include several large-scale solar power projects and would be the mainstay of the country’s solar and renewable energy policy, with at least 510 MW of concentrated solar power capacity. The World Bank approved $519 million debt finance for the project last year.
Morocco is the largest importer of energy in the Middle East and North Africa region, and it also has significant renewable energy potential. The wind energy potential in the country is estimated at 25,000 MW, and the Ministry of Energy expects 2,000 MW wind energy capacity installed by 2020.
The country’s Solar Plan targets 2,000 MW solar power capacity installed by 2020. The capacity will be spread across five sites with an aggregate coverage of 10,000 hectares. These projects include the Noor-Ouarzazate Concentrated Solar Power Project, other solar thermal power projects and solar photovoltaic power projects.