India’s largest power producer and state-owned NTPC has signed a Memorandum of Understanding with Moroccan Agency for Sustainable Energy (MASEN) for mutual cooperation in the renewable energy sector. A statement by the Ministry of Power reads that the agreement was signed during the 17th CII EXIM conclave on India-Africa growth partnership in New Delhi from 9th-20th July, 2022.
Several African countries turned up at the event to deliberate on how to make the respective countries attractive for investment from across India in as many sectors as possible. Following a number of discussions between both NTPC Ltd and Masen, the MoU promises to usher in the joint development of utility-scale projects based on renewable energy in Africa. The key element of MoU is to facilitate support services for capacity building and share the experience, know-how, and expertise in the areas of mutual interest, particularly in the field of research and development. Of all the countries in Africa, Morocco is the most focussed on renewable energy, showing the rest of Africa a way out of fossil fuel. One should not get surprised if the small step leads to a huge stride later exploring a common development programme about renewable energy power projects in other African Countries, the Ministry of Power said.
Masen has been piloting renewable energy since its inception in 2010 in Morocco. At the end of 2021, 4109 MW are in operation in wind, hydro and solar. The guiding principle behind Masen Group is the development of renewable resources transforming Morocco into an inexhaustible force of economic, social, and sustainable development.
Launched in 2005 with the support of the Ministry of External Affairs and the Ministry of Commerce & Industry, Government of India, the CII-Exim Bank Conclave on India-Africa Project Partnership has continued to play a pivotal role in encouraging Indian companies to establish and grow their footprints in Africa.