Rabat – Germany, France, Spain, Portugal, and Morocco signed a new declaration Wednesday, to lift barriers, especially regulatory and physical, to renewable electricity exchange.
According to a press release from the Moroccan Agency for Sustainable Energy (MASEN), the declaration aims to facilitate cross-border exchange between renewable electricity producers and electricity-consuming companies.
The five countries have reached a “milestone” with the declaration to gradually integrate their renewable electricity markets, said Masen.
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MASEN President Mustapha Bakkoury announced his commitment to create the conditions for an integrated electricity market between Morocco and the four countries.
The countries will launch a consultation exercise in 2019 with potential producers and buyers of renewable electricity in the five countries.
The exercise’s purpose is to highlight opportunities for investment and cost reduction to achievement each country’s climate change goals in line with the Paris Agreement.