Energy Capital & Power

EIB to Fund Moroccan Offshore Wind Feasibility Study

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The Moroccan Agency for Sustainable Energy (Masen) has secured a €2 million grant from the European Investment Bank (EIB) to fund the implementation of a feasibility study in order to assess the North African country’s offshore wind energy potential.

Masen will leverage the grant to understand the potential of turning the Moroccan Atlantic coast into a wind energy hub, focusing predominantly on understanding the technical, economic, environmental and social requirements as well as the impacts of offshore wind energy in the country whilst assessing associated risks and challenges. From the study, the country hopes to kickstart the deployment of a small-scale offshore wind energy pilot project.

EIB Director of Operations in the European Union’s Neighbouring Countries Lionel Rapaille, stated that, “The financing of this study assessing Morocco’s offshore wind energy potential is fully in line with the EIB’s strategy to accelerate the development of renewable energy and support innovation. As the EU climate bank, our role is to provide financing and solutions to combat climate change more effectively.”

In addition to providing financing, the EIB will supply Masen with the technical know-how regarding construction, operation and maintenance of offshore wind energy platforms, having financed and carried out a number of offshore energy projects itself.

With Morocco eyeing to have wind energy account for over 52% of the energy mix for energy security and sustainability by 2030, the Masen-led technical assistance program is expected to help further unlock investment across the country’s offshore renewables sector.

The study forms part of efforts by Masen to expand its footprint across the country’s renewables market.

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Nicholas Nhede

Nicholas Nhede

Nicholas is an energy sector journalist with a passion on how technology and diversification of the energy mix can be used to address energy sector challenges. Nicholas holds a diploma in Journalism and Communication studies and has been covering energy-related topics including the Internet of Things, distributed energy and digitalisation since 2015.