Genesis Morocco: What to do with 1.3 Billion Euros ?

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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, August 26, 2010    <<Home

What to do with 1.3 Billion Euros ?

In 2009 Morocco total energy bill, including oil, coal and electricity imports sits at 1.3 billion euros. (estimate)

Its a blunt postulate that we can offset our energy bill through home production of renewable energy. As a matter of fact, it is doable but requires massive investments and a long term commitment, which seems to be the case.

The scale of the renewable energy reconversion of Morocco makes me think that it will no doubt be seen as a major part of His Majesty's 'Projet de Regne' along with the INDH. Social programs are what they are, necessary instruments of state when the economy doesnt function optimally thus failing in its wealth distribution or tax collection mechanisms. They do not substitute for a vision of the future of the country, nor could they be its ideal.

The current projects and vision of His Majesty of a country having conducted a successful energy reconversion from fossil fuels is ambitious, bold and if we look into things with a clear sight as to its potential, can take Morocco out of energy dependency within one generation. If we couple this effort with drinking and agrarian purpose water as well as reclaiming non arable lands, this vision takes us further towards achieving water and food self sufficiency.

So what to do with 1.3 Billion Euros ? Well, bring major funds to the INDH initiative !

Although I am much of a liberal, I consider a social safety net to be an essential commodity for a nation. It is an instrument that demonstrates wealth and stability, often the apanage of developed nations, but why wouldn't we be able to break ground there at some time ? Because we lack the financial resources ? Do we ?

Considering Morocco's potential for clean energy generation I would say we are a rich nation. I have in the past exposed an idea in the post untitled 'Copenhagen, De Mello and the World Bank', that allows for debt reconversion by developed nations into renewable energy and drinking water projects in developing nations such as ours

I will go further, we should be able to consider emitting sovereign debt both domestically and internationally in order to fund this energy reconversion. I neednt insist that first it has to make sense on paper, but at the rate this is going worldwide it seems massive renewable energy projects are the new dot coms. It is an exciting early age, and as in any burgeoning activity first comers can not only set the rules but also achieve early market dominance.

Our nearest market being Europe and the UMA region, as for Europe their insolation metrics disadvantage them quite a bit (thus projects such as Desertec) as for UMA countries, well it is healthy competition and helps achieve something for the region.

So what to do with 1.3 billions ?

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