Rabat, Morocco (TMT)- In an interview featured on yesterday’s edition of leading Moroccan economy paper Leconomiste, President & CEO of ACWA power, Mr. Mohammad Abunayyan said “that ACWA Power has invested $ 60 million in the last 5 years in Morocco.”
“Morocco is an excellent investment destination when it comes to the renewable energies sector,” Abunayyan stressed.
“This is mainly due to the clarity of Morocco’s strategy in this sector, which provides visibility to investors.
“Then there are effective institutional and regulatory systems, including a strong political will towards renewable energies.
The CEO of ACWA, who was taking part in the 2nd edition of Photovoltaica, the largest international exhibition in Africa dedicated to the development of solar energy, held from 7 to 9 September 2016 in Morocco’s industrial hub Casablanca, said earlier that Morocco’s visionary clean energy endeavor “serves as a model not only to the region but to the world on how quickly and efficiently the transition to renewable can be implemented to ensure a sustainable future for us all.”
“While Solar energy has a significant role in not only decarbonizing energy generation but also in catering for the rapidly increasing demand for new capacity to fuel industrialization, economic development and municipal serves improvement in Morocco but also to provide energy access to large parts of the underserved continent of Africa, policy makers, technology providers, investors, owners and operators need to work together to create the appropriate legal, infrastructural and regulatory environment to reduce risk and encourage investment with a long term mindset,” ACWA’s CEO stressed.
“Our $2.8 billion solar facility at Ouarzazate, Morocco is a testament to what a partnership between an active and visionary government and an investor with a time horizon spanning decades can achieve,” Mr. Mohammad Abunayyan further noted.
The Moroccan Times.