Genesis Morocco: EBRD To Invest EUR600M A Year In North Africa, Jordan Renewables

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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.

Sunday, May 6, 2012    <<Home

EBRD To Invest EUR600M A Year In North Africa, Jordan Renewables


ROME (Dow Jones)--The European Bank for Reconstruction and Development aims to invest EUR600 million annually in renewable energy projects in Egypt, Tunisia, Morocco and Jordan over the next few years, Managing Director Riccardo Puliti told Dow Jones Newswires Thursday.

"When we are in full swing the total annual investments will be about EUR600 million," said Puliti, adding this is expected to be reached in the next two to three years.

The EBRD is currently at the preliminary stage of assessing two or three renewable energy projects, including one in rural Morocco, as it only started operating in the countries in October, Puliti, who is also the head of energy and natural resources at the bank, said on the sidelines of a conference in Rome.

The EBRD is open to joining local partners in these countries for green energy projects, as well as teaming up with large international players such as Enel Green Power SpA (EGPW.MI), Iberdrola SA (IBE.MC) and AES Corp. (AES), said Puliti.

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05-05-12 0730GMT

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