EIB Director of Operations in the European Union’s Neighbouring Countries Lionel Rapaille, stated that, “The financing of this study assessing Morocco’s offshore wind energy potential is fully in line with the EIB’s strategy to accelerate the development of renewable energy and support innovation. As the EU climate bank, our role is to provide financing and solutions to combat climate change more effectively.”
In addition to providing financing, the EIB will supply Masen with the technical know-how regarding construction, operation and maintenance of offshore wind energy platforms, having financed and carried out a number of offshore energy projects itself.
With Morocco eyeing to have wind energy account for over 52% of the energy mix for energy security and sustainability by 2030, the Masen-led technical assistance program is expected to help further unlock investment across the country’s offshore renewables sector.
The study forms part of efforts by Masen to expand its footprint across the country’s renewables market.