Speaking to an audience of 150 people at this week's Invest Africa Ltd's Africa Debate, Xlinks Vice Chair Paddy Padmanathan shared his insights on the benefit, impact and challenges of private enterprise on Morocco’s renewable industry.
Highlighting the compelling need for projects like Xlinks' Morocco-UK Power Project, he explained “HVDC transmission is not only cost competitive, its energy efficient. On a 4,000km underwater link, we will only lose 13% of electricity. Combine that with being able to generate electricity very competitively in Morocco, we are able to export that energy very competitively to other countries”.
During the panelist discussion exploring Morocco's emergence as a hub for climate-friendly industrial energy, he added "It immediately provides Morocco with another export commodity. Morocco has been a fantastic leader of a very significant phosphate industry and now they have green electrons that they will be exporting, and this single project will attract millions of dollars of investment and a significant amount of assets will be built in Morocco on the back of that. It will attract a huge amount of industrial infrastructure and expansion because of the scale of that investment and it will perpetually continue to generate for foreign currency."
Morocco has abundant wind and solar resources. Coupled with strategic investments in research and innovation, the country is well placed to export clean and competitive energy to its allies in Europe and beyond.
It was great to hear insights from panellists Reda Hamdoun, (Executive Director, NAREVA), Fatima-zahra El khalifa, (Director General, Cluster ENR), Hanane Mourchid, Chief Sustainability Officer, OCP Group and moderator Aubrey Hruby (Senior Fellow, Africa Centre, Atlantic Council).
The Morocco Government is committed to fostering fair and sustainable energy partnerships and boosting competitiveness and innovation.
Xlinks' Morocco-UK Power Project will create significant value for this North African hub, including investments of millions of MAD from 2026 across the 50 year project lifetime, the creation of ten thousand jobs and net incremental water supply for the area.
Were you at this week's Africa Debate? What was your biggest takeaway?
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