In a strategic move aimed at strengthening economic integration and exchanging technical expertise, His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, the Saudi Minister of Energy, held an important meeting in Riyadh with Leila Benali, the Moroccan Minister of Energy Transition and Sustainable Development. This meeting culminated in the signing of a joint executive program for cooperation in the field of renewable energy, thus activating the memorandum of understanding signed by the two brotherly countries in May 2022.
Executive Program Details and Areas of Cooperation
The new executive program focuses on establishing practical frameworks to enable companies operating in the energy sector to implement joint projects between the governments of the Kingdom of Saudi Arabia and the Kingdom of Morocco. Key areas of cooperation include the development of renewable energy projects, advanced energy storage systems, technologies for connecting renewable energy sources to national electricity grids, and strengthening electricity transmission lines to ensure efficient and sustainable supply.
The agreement also includes provisions for using clean energy sources in infrastructure and major development projects, reflecting both parties' commitment to integrating sustainability into all aspects of urban and industrial planning. The program also addresses the knowledge aspect, stipulating the establishment and development of specialized research and technology development centers, as well as training and capacity-building programs to transfer knowledge and localize technology.
The context of energy transition and Vision 2030
This collaboration comes at a time when Saudi Arabia is undergoing radical transformations in its energy sector as part of its Vision 2030, which aims to diversify the national energy mix and reduce reliance on fossil fuels for electricity generation, ultimately achieving net energy neutrality. Saudi Arabia is now a major player in the global energy market, not only as an oil exporter but also as a rising hub for green hydrogen and solar energy technologies.
Morocco is a leader in renewable energy in North Africa
For its part, the Kingdom of Morocco possesses a leading regional experience in renewable energy, having made significant strides in harnessing wind and solar power, and is ambitiously striving to increase the share of clean energy in its energy mix. This cooperation represents an ideal opportunity for Morocco to benefit from Saudi investment capabilities and technical expertise in managing large-scale projects, thereby enhancing its energy security and supporting its sustainable development plans.
Economic and strategic dimensions
This agreement is not limited to technical aspects; it also carries profound economic dimensions, opening new horizons for the private sector in both countries. This program is expected to contribute to increasing the volume of mutual investments, creating new job opportunities, and strengthening the two countries' position as regional leaders in the green economy. This rapprochement also underscores the deep fraternal relations between Riyadh and Rabat and their ongoing commitment to unifying their visions and positions on global climate challenges.
