Italian PV companies head to Morocco

Share

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, Morocco’s 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 Morocco’s 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.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

SunPower stock crashes 70%

19 July 2024 The company’s share price fell below $1 as it announced it is halting some operations and ending its lease and power purchase agreement offerings, amo...

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.