French energy company “ENGIE” plans to sell its stake in Morocco’s largest coal plant.

The company’s regional director for North Africa, Loic Geigert Hooper, announced at the French-Moroccan Business Forum in Rabat that ENGIE plans to liquidate all of its coal assets by 2027, including its 33% stake in Moroccan energy company “Safi”.

Hopper said the company had received offers from several buyers interested in the stake, without disclosing further details.

“Engie’s” partners are considering the possibility of transitioning to green ammonia production, an initiative aimed at reducing carbon emissions from the “Safi” plant, which has a capacity of 1,386 megawatts.
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#Coal #France #French_Moroccan_Business_Forum #Morocco #Morocco_News #Rabat #Renewable_Energy

Recent data from the Energy Research Unit showed a significant increase in the potential capacity of solar energy projects on the African continent.

This capacity reached 140.9 GW until June 2024, which reflects the increasing commitment of countries to promoting the use of clean energy in the electricity generation mix.

The figures indicate that North African countries, led by Morocco, Libya, Egypt, Mauritania and Algeria, have the largest total capacity, amounting to 90.53 gigawatts, while the capacity of sub-Saharan African countries reached 50.42 gigawatts. Most of this capacity is distributed between projects under construction, pre-construction, and announced projects.

The Arab countries stand out on the list of the most developed, with Morocco topping the list with a capacity of 29.05 gigawatts, followed by Libya, Egypt, Mauritania and Algeria with advanced projects aiming to enhance their share of clean energy in the coming years.
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#African_Continent #Al #Algeria #Algeria_News #Egypt #Egypt_News #Libya #Libya_News #Morocco #Morocco_News #Renewable_Energy #Solar_Energy #Tunisia #Tunisia_News

Morocco has succeeded in achieving a distinguished position among the top ten countries in the world in attracting international public financing for renewable energy projects.

According to a report issued by a group of international organizations, Morocco ranked ninth, receiving a total of $5.6 billion between 2010 and 2022.

The report, prepared by the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA), the World Bank, the United Nations Statistics Division (UNSD), and the World Health Organization (WHO), tracks progress towards achieving the UN Sustainable Development Goals (SDGs).

The majority of the funding Morocco received was directed towards solar energy projects, followed by wind energy projects and other renewable energy sources, including hydropower.
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Morocco has achieved an advanced position on the global level by being ranked 65th in the Global Energy Transition Index for 2024, issued by the World Economic Forum, topping the Maghreb countries in this field.

Tunisia came in second place in the Maghreb and 89th in the world, followed by Algeria in third place in the Maghreb and 91st in the world, while Mauritania and Libya did not enter the global list.

The index evaluates 120 countries based on several criteria, including justice, sustainability, safety, and readiness to transition toward renewable energy systems, by providing an appropriate infrastructure and legal and regulatory framework, in addition to innovation, education, human capital, and financing.
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#Mauritania #Algeria #EnergyTransition2024 #Fossil_Fuels #Libya #Morocco #Renewable_Energy #Tunisia #World_Economic_Forum

The World Bank decided to provide financial support amounting to $700 million to Egypt, as part of a program aimed at enhancing macroeconomic stability and supporting sustainable growth.

These funds, allocated within the Development Policy Financing Program, will help the Egyptian government implement structural reforms to create an attractive business environment for investments and stimulate the private sector.

The financing comes in the context of supporting the Egyptian government’s efforts to overcome short-term economic challenges and facilitate the transition towards green transformation.

The program includes promoting the use of renewable energy, improving the efficiency of the electricity sectors, and restructuring the governance of government companies.

The Minister of International Cooperation and Governor of Egypt at the World Bank Group, Dr. Rania Al-Mashat, confirmed that this program represents part of Egypt’s commitment to implementing economic and structural reforms aimed at laying the foundations of a competitive economy led by the private sector and supporting environmental transformation.
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#Dollar #Egypt #Egyptian_economy #Egyptian_Government #Renewable_Energy #Stephane_Gimpert #World_Bank

The Egyptian Ministry of Electricity and Renewable Energy announced its intention to move forward with its strategic plan to diversify electricity production sources by enhancing reliance on hydroelectric power.

The ministry aims to implement hydroelectric power projects worth up to $4 billion, in cooperation with the private sector.

Among the main projects that the ministry intends to implement is a water pumping and storage station to produce electricity with a capacity of 2,400 megawatts in the Ataka area. This project has been included in its strategy, and work is currently underway to complete the necessary procedures.

A memorandum of understanding was signed with a Chinese company to implement the project more than three years ago, but the project was postponed due to financial and technical challenges.
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#Egypt #Egyptian_economy #Egyptian_Ministry_of_Electricity #Electricity_production #Hydroelectricity_production #Renewable_Energy

The Algerian Ministry of Energy announced on Wednesday that Niger is ready to provide the appropriate conditions for the return of the Algerian company Sonatrach to resume its activities in the country, especially in the oil field in the Kafra region.

This came during a meeting between the Nigerien Minister of Petroleum, Maman Mustafa Barki Bako, and the Algerian Minister of Energy and Mines, Mohamed Arkab, in the Nigerian capital, Niamey.

During the meeting, the Nigerien minister stressed his country’s commitment to facilitating the work of Sonatrach in the region, proposing the formation of a joint working group of experts from the two countries to intensify cooperation and follow up on the implementation of current and future projects.
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#Abdelmadjid_Tebboune #African_Continent #Algeria #Algerian_Ministry_of_Energy #Algerian_President #Kafra #Mineral_resources #Niamey #Niger #Nigerian_Oil #Renewable_Energy #Sonatrach