Morocco and UAE deepen ties with major water and energy project
Morocco and the United Arab Emirates have deepened ties with a 13-billion-dollar investment in Morocco’s struggling water and energy sector. This move could bolster Morocco’s bid for regional leadership in the energy sector while deepening strategic ties with the Gulf.
According to Yabiladi, a consortium consisting of the Mohammed VI investment fund, Taqa Morocco, and the Moroccan energy firm Nareva has signed three memoranda of understanding with the Moroccan government and the National Office of Electricity and Drinking Water (ONEE). The agreement advances a comprehensive plan by 2030.
The news was announced in a press release by ONEE on May 19 and follows a 2023 joint declaration signed in December 2023 by King Mohammed VI and UAE President Sheikh Mohamed bin Zayed wherein the two agreed to deepen bilateral collaboration.
The program includes major infrastructure projects, including water and electricity transport, seawater desalination, and energy production from renewable and gas-fired sources.
Each project will be developed under individual agreements between the consortium and ONEE, with financing sourced from a mix of national and international lenders.
Beyond its technical goals, the initiative is expected to be a major driver of socio-economic transformation.
Expected to generate over 25,000 jobs, including 10,000 permanent positions, it also aims to cultivate industrial expertise as Morocco aims to diversify its agrarian economy. The move will particularly be felt in the desalination and renewables sectors, positioning Morocco as a regional leader in clean energy technology.
The agreement comes as Algeria, Morocco’s regional rival, sours ties with the UAE.
According to Rabat, the program represents more than just a development in infrastructure. It is a move to not only address the current climate crisis but to “boost Morocco’s water sovereignty and the resilience of the national network of electricity transportation,” according to the statement.
Yabiladi/ Maghrebi
Want to chase the pulse of North Africa?
Subscribe to receive our FREE weekly PDF magazine
