Morocco : Green Power group to acquire 48% stake in Masdar Energy

Enel Green Power SpA, an Italian multinational renewable-energy corporation, headquartered in Rome, is to acquire 48 % stake in the Moroccan firm, Masdar Energy while Marita Group, a Moroccan holding operating in the real estate, energy and education industries will control the remaining 52%, reports Trend Online.

This operation, which includes an investment plan of 1.7 billion Euros by 2023, is expected to create 7,600 jobs.

Masdar Energy has signed an agreement with Société d'Investissements Energies (SIE) for the launch of a pilot project of energy efficiency in the Moroccan penitentiary environment. The latter was presented by Masdar Energy to the Moroccan Ministry of General Affairs and Governance on the basis of the ESCo model, a partnership contract that provides broader solutions for the implementation and financing of energy efficiency to its customers.

The pilot project will include the implementation of certain technologies such as photovoltaic systems, treatment and recovery of wastewater, production of hot water with solar panels and finally, the recovery and disposal of waste through the installation of a biomass boiler.