Zalar Holdings is Morocco's leading poultry group dealing with grain trading, animal feed, hatching, broilers, as well as slaughter and meat processing.
The Norwegian company will work with Moroccan renewable energy company Jet Energy to install solar panels on the roof of Zalar plants in ELDIN Had Soualem, Agro Industrielle Al Atlas Tit Mellil, Banchereau Maroc Mediouna and Al Alf Fes.
The financing marks the first time the Norwegian company has backed a project in the North African country.
The solar panels are expected to generate around 3,800 MWh of energy per year over a 16-year period in a bid to reduce Zalar's CO2 emissions to around 3,000 tonnes per year.
The project will improve the facility's production capacity and enable smooth operations without power outages.
In addition to stealth operation at the plants, the project will also create more than 100 jobs during the installation and maintenance of the solar panels.
With increased production capacity, Zalar Holdings will add to the country's production capacity of more than 6.5 million tons per year for effective production, which reaches a maximum of 4 million tons of animal feed.
According to Zalar Holding CEO Siham Benhamane, the company aims to make a measurable impact on affordable, reliable and clean energy.
“ "The partnership could be a model for future opportunities and growth in line with Morocco's energy transition plan," said Norway's ambassador to Morocco, Sjur Larsen.
“ Empower's partnership with Moroccan industrialists will provide a reliable financing model for solar investments in Morocco ”.
The move is in line with Morocco's strategy to switch to clean and renewable energy and reduce CO2 emissions.
The North African country currently has 37 % of renewable energy capacity on its national grid and is widely recognized as an African leader in the sector.
The country is pushing to achieve its target of using renewable energy in its electricity mix to 52% by 2030 and up to 100% by 2050.
Source: Business Africa