Green Climate Fund Accredits Morocco’s Agency For Sustainable Energy
Rabat : The Green Climate Fund (GCF) accredited Morocco’s Agency for Sustainable Energy (MASEN) in a virtual conference on July 1.
The GCF, established by the United Nations Framework Convention on Climate Change (UNFCCC), “aims to support a paradigm shift in the global response to climate change,” according to the UN’s environment programme’s website.
The GCF pledged to fund Morocco’s climate change efforts with nearly $227.6 (MAD 2.03 billion).
Based in South Korea, the GCF features 24 countries that focus on global climate action in developing countries.
The accreditation “reinforces Morocco’s position as a leader in the field of renewable energy in the field of renewable energies on an international scale and reinforces Masen’s role as a central player in the field at the national and continental levels,” states a MASEN press release.
Currently, the GCF has nine projects in Morocco and has approved five ready-to-go projects.
MASEN plans to increase the kingdom’s reliance on clean energy sources such as wind power, solar power, and hydro power. According to GlobalData, Morocco will be 52% reliant on clean energy by 2030.
Projects such as the Noor Solar Plant in Ouarzazate and the Fask Dam Project near Guelmim aim to propel Morocco into a green future. In February 2021, Morocco’s Minister of Energy, Aziz Rabbah, stated that the Noor Solar Plant supplies approximately 2 million Moroccans with energy.
The kingdom has invested nearly MAD 52.1 billion ($5.8 billion) into clean energy projects and Morocco remains committed to achieving the UN’s Sustainable Development Goals (SDGs) which include objectives such as reliance on affordable, clean energy and climate action.
In addition, the GCF has pledged nearly $227.6 (MAD 2.03 billion) to support Morocco’s efforts in fighting climate change and improve Morocco’s green infrastructure.
The fund serves to act as a catalyst for “climate innovation by investing in new technologies, business models, and practices to establish a proof of concept.”
Aside from MASEN, the GCF has accredited 103 international climate change entities including Morocco’s Agency for Agricultural Development.
Source: moroccoworldnews
