Morocco and Finland have signed a memorandum of understanding (MOU) to strengthen cooperation on energy. The aim of the partnership is to implement cooperative actions in the field of renewable energy, cleantech, and energy efficiency, for both countries.
The document was signed during a virtual event by the Moroccan Minister of Energy Transition and Sustainable Development, Leïla Benali, and Finland’s Ambassador to Morocco, Pekka Hyvönen, on the behalf of Mika Lintilä, the Finnish Minister of Economic Affairs.
The MoU in the energy sector emphasizes the development of technical and economic cooperation, particularly in the use of renewable energy. Cooperative measures will also be taken in the fields of the hydrogen economy, energy efficiency, storage solutions, flexible energy systems, research and development, etc.
The deal will facilitate the promotion of Finnish investments in Morocco. On this occasion, the Finnish Minister Mika Lintilä, said, “Investments in renewable energy, energy efficiency, and energy systems are essential in a successful society. Finland has developed strong expertise in these areas and we are pleased to begin practical cooperation with Morocco”.
The two ministries of Morocco and Finland will work together to accelerate the partnership between government agencies and companies for both countries. The deal is an important tool for strengthening the networks between companies, universities, and research organizations, as well as creating closer commercial links between the countries.
From Finland’s point of view, Morocco will serve as a gateway to the growing African renewable energy market. Bilateral relations between the countries exhibit Finland’s growing interest in Morocco’s water, wind, and solar energy.
In addition to renewable energy and cleantech, Morocco has shown interest in waste and water treatment plants as well as information and communication technology, the fields in which Finland has significant knowledge and expertise.
Morocco looks forward to achieving a comprehensive energy transition, becoming the regional superpower in green energy. The country has set the target to achieve more than 52% of the installed energy capacity of renewable origin by 2030.