A group of Italian companies has launched a 22 million investment project to develop solar power in Morocco.
The companies joined the Solar Breeder project at Photovoltaica, Moroccos first international PV exhibition, which took place November 4 to 6 in Casablanca. Participating companies include Brandoni Solare, Friem, RSE, Moroni & Partners, Raptech, PV plant management firm Kenergia Sviluppo and its parent company Kenergia, which is developing and coordinating the Solar Breeder project in Morocco.
The Solar Breeder program is seen as an opportunity for small and midsized Italian PV companies to expand operations into a new and potentially promising renewable energy market. The program will cover the entire PV value chain.
Kenergia CEO Giovanni Simoni, on behalf of the group, and Ahmed Baroudi of Moroccos energy investment company, Societè d’Investissement Energétique (SIE), signed the agreement in Casablanca.
The Solar Breeder project is also backed by local agencies such as the Moroccan Agency for Solar Energy (MASEN) as well as the Ministry of Economy and Finance and the Ministry of Energy, Mining, Water and Environment.
As part of the program participating companies are to invest 22 million in renewable energy development in the country. The Solar Breeder project marks the first time that Italian PV companies join forces to work together in an effort to beat the international competition, according Simoni.
"The challenge we are facing is to deal with the new renewable markets with the Italian SMEs, and we can achieve it only with a common commitment and the support of local public and private institutions," Simoni said, adding that the agreement represented the starting point in a process of investments that will involve Italian companies, local banks, the S.I.E. and private investors.