Iberdrola, a Spanish renewable energy company, has formed a partnership with the International Finance Corporation (IFC) to promote clean energy and reduce carbon emissions in Morocco. The collaboration aims to support renewable energy projects in the country.
The partnership is exploring the possibility of a “green loan” mechanism, which would provide funds specifically for environmentally beneficial projects, including renewable energy initiatives. These loans are tied to sustainability indicators, ensuring that the funds are used in accordance with specific environmental standards.
Iberdrola is already involved in renewable energy projects in Morocco and intends to accelerate its efforts with the support of the IFC partnership. The collaboration represents the first step towards broader cooperation to facilitate the energy transition not only in Morocco but also in other countries, including Brazil, Poland, and Southeast Asia.
The objective of the partnership is to help countries move away from traditional sources of energy such as coal and oil and shift towards renewable sources like wind and solar energy. By promoting renewable energy projects, Iberdrola and IFC aim to contribute to Morocco’s sustainable development and reduce its carbon footprint.
The Moroccan Times.
