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Monday, 24 October 2022

Hassan Allam latest to target green investment in Morocco

Hassan Allam eyes renewables, desalination projects in Morocco: Our friends at Hassan Allam Holding are mulling investing in renewable energy and desalination projects in Morocco, and could deploy an initial USD 50-150 mn within the next year, CEO Amr Allam told Bloomberg Asharq on the sidelines of the Africa Business Forum in Casablanca.

“We are ready to invest in Morocco and we have international partners ready to join us as investors,” Allam said. “The funding is available and the experience is there.”

Expect more details soon: Company representatives are planning another trip to the country to discuss potential investments with government officials, Allam said.

OIH is also interested: Orascom Investment Holding (OIH) is eyeing an initial USD 100 mn investment in renewable energy, EVs charging stations and agro-industrial sectors in the North African country, CEO Naguib Sawiris said on the sidelines of the forum earlier this week.

Moroccan renewables could one day feature heavily in Europe’s energy mix: Morocco and the EU last week agreed to establish a “green partnership” that could boost the country’s ambitions to become a renewable energy export hub to Europe (a goal it shares with Egypt). Enterprise Climate has more.

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