The “Sustainable Electricity Trade Roadmap” was signed by Morocco and its European allies (France, Germany, Portugal, and Spain) outside of the COP27 climate change summit taking place in Sharm El Sheikh, Egypt.
The advantages of integrating the regional electricity markets are acknowledged by the five nations. This comprehensive strategy was unveiled during the COP22 in Marrakech in 2016.
The initiative aims to facilitate “mutually beneficial” exchanges of renewable electricity between Morocco and the four EU countries through the gradual integration of their electricity markets.
The project for sustainable electricity trade (SET) between Morocco and the European internal energy market is supported by the European Union and the Union for the Mediterranean.
The goal is to facilitate cross-border trade from producers of renewable electricity to corporate consumers of that electricity under power purchase agreements (PPAs) within the SET countries.
According to experts, importing electricity from countries with great solar and wind resources helps reduce costs for corporate consumers and cuts the prices of their products for individual consumers.
After setting out a clear pathway for electricity exchanges and identifying investments, processes, and procedures for sustainable electricity trade, the five partner countries expect strong interest from companies that consume large amounts of electricity and from renewable energy companies.
Commenting on the agreement, Moroccan Minister of Energy Transition Leila Benali said the deal shows the common will of the five countries for the exchange of clean energy.
The move, which is part of the EU-Morocco Green Partnership, comes to support the various measures taken on both shores of the Mediterranean Basin to encourage production and consumption of clean energy, she added.
The EU-Morocco Green Partnership signed in October is the first such deal that the EU has signed with a partner country. It aims to advance the external dimension of the European Green Deal through action on the ground. Work will be developed across three main thematic axes: climate and energy; the environment, including marine and maritime issues; and the green economy.
The partnership will also look at ways to cooperate with other nations and partners in order to build a bridge between Europe and Africa. It is anticipated that it will serve as a template for similar collaborations across the African continent, where Morocco already sets the bar for environmental and climate goals.
