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Masen (Moroccan Agency for Sustainable Energy) announced on Wednesday the signing of memorandum of understanding (MOU) between Morocco and Germany, Spain, France, Portugal for cross-border trade of renewable electricity between the five countries under the Sustainable Electricity Trade (SET) Roadmap.
The MOU aims to put in place the mechanisms necessary for the implementation of cross-border trading between producers of renewable electricity and corporate consumers of that electricity under power purchase agreements within the SET countries, according to details shared on Masen’s official twitter handle.
SET Roadmap was launched in 2016, during COP22 in Marrakech, with the aim of promoting the exchange of renewable electricity between Morocco and the four European countries.
(Writing by SA Kader; Editing by Anoop Menon)
