On the sidelines of COP27 in Sharm el-Sheikh, Egypt, Morocco, Germany, Spain, France and Portugal signed a Memorandum of Understanding (MoU) on the Sustainable Electricity Trade Roadmap “SET Roadmap”.

This memorandum of understanding aims to strengthen the Kingdom's strategic partnership with its European partners in the field of energy. It is part of the Sustainable Electricity Trade Roadmap (SET Roadmap), established at COP22 in Marrakesh in 2016 by Morocco, France, Germany, Spain and Portugal. Its goal is to open renewable energy markets to each other.

It also comes after the signing of a joint statement in Brussels in December 2018 outlining efforts to reduce commercial and physical impediments to corporate power purchase agreements (CPPAs).

The MoU will allow the five countries to continue their efforts to integrate green electricity markets. Priority will be given to the development of cross-border green corporate PPAs, bilateral contracts between producers and industrialists for the sale of renewable energy that is gaining ground among large industrialists, particularly those on the European continent.

Leila Benali, Minister of Energy Transition and Sustainable Development. Jochen Flasbarth, State Secretary of the Federal Ministry for Economic Cooperation and Development of the Federal Republic of Germany. Present at the signing ceremony were Stephane Crouzat, French Ambassador in charge of climate change, renewable energy and climate risk prevention, and Manuela Franco, Portuguese Ambassador to Egypt.

lvaro Iranzo Gutiérrez, Ambassador of Spain in Egypt, Christian Berger, Chief Ambassador of the Delegation of the European Commission in Egypt. Nasser Kamel, Ambassador, Secretary General of the Union for the Mediterranean. And Paul Noumba Um, MENA Regional Director for Infrastructure at the World Bank, also attended the ceremony.

During the ceremony, Benali emphasized that the signing of this memorandum of understanding represents the shared desire of the five countries to foster the flow of clean and ecologically friendly energy on a larger scale.

He noted that the MoU comes at an opportune time to support the countless initiatives underway on both sides of the Mediterranean to promote the production and consumption of clean energy.

Source: HespressEnglish