Genesis Morocco: Debt swap for energy | Solaris Revenues


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Genesis Morocco

Project Genesis is a strategic sustainable development framework for Morocco to translate from being a net importer of energy and a country facing water shortage issues, into the number one producer both of clean renewable energy and water in the region.

Thursday, October 8, 2009    <<Home

Debt swap for energy | Solaris Revenues

Well the question of where we come up with the investment for Solaris Morocco has been on my mind for a while.

To be considered : swapping Morocco's $18.8 billion debt (2008 est) for investment. The main holder of the debt ? France with 34 billion Dh (4.5 billion USD 1996 est).

Can France be persuaded ? I dont care much for politics, let us talk money and ROI, I would propose offering a deal, at higher return rates then whats currently applied to service the debt in exchange for investment.

France would be one of the major holders of Solaris Morocco, and also offered to participate in Project Atlas for water desalinization.

The debt would end up paying for itself and the revenue evenly shared in dividends. With a national buy back option to be exercised after say 25 years of operation.

In fact Morocco's foreign debt considering the projected revenues of Solaris (2.2 billion USD current est) could be paid in full in 8 years, for an initial investment of 8 billion USD.

Sounds bold ? time calls for bold moves to address climate change. This project addresses both climate change, sustainable development and the long running debt problem.