IRENA and Morocco agreed to work on advancing the green hydrogen economy

Rabat, June 15 - Neftegaz.RU. Under the agreement signed between Morocco and the International Renewable Energy Agency (IRENA), the parties will work together to develop technology and market outlook studies, craft public-private models of cooperation on hydrogen, explore the development of new hydrogen value chains and lay the groundwork for the trading of green hydrogen. Furthermore, the 2 parties will promote renewable energy investments, including climate finance, through the development of solid project pipelines with enhanced bankability and the facilitation of access to finance.

Morocco has revised upwards its renewable energy ambition with a decision to increase the share of total installed capacity to more than 52% by 2030 – exceeding the country’s objective announced at COP21 in Paris.

Morocco’s Minister of Energy, Aziz Rabbah said:

• Morocco has played an important role in global renewable energy cooperation through IRENA since the Agency’s formation, and we will continue to promote and encourage the uptake of renewables in the context of climate change and sustainable development at a regional and an international level
• The signing of this agreement is an illustration of the excellent cooperation between Morocco and IRENA and we will continue to strengthen our joint-efforts aimed at accelerating the transition

At the end of 2020, Morocco had a total installed renewable energy capacity of almost 3.5 GW.