Finland and Morocco sign a memorandum of understanding on energy cooperation in Rabat
Finland and Morocco have signed a memorandum of understanding (MOU) on energy. The aim of the document is to develop technical and economic cooperation between the two countries in the energy sector and promote the access of Finnish companies to the Moroccan market.
Finland’s Ambassador to Morocco Pekka Hyvönen, acting on behalf of Minister of Economic Affairs and Employment Mika Lintilä, and Leïla Benali, Morocco’s Minister of Energy Transition and Sustainable Development signed the MOU at a virtual event in Rabat on 9 February 2022.
The MOU in the energy sector emphasises the need to develop cooperation especially in the use of renewable energy. Opportunities for cooperation are also available in the fields of energy efficiency, energy technology, the hydrogen economy, and research and development.
“Investments in renewable energy, energy efficiency and energy systems are essential in a successful society. Finland has developed strong expertise in these areas and we are pleased to begin practical cooperation with Morocco,” Lintilä says.
“The MOU signed today provides a good foundation for developing the partnership between the two countries. It is an important tool for strengthening the networks between companies, universities and research organisations, as well as creating closer commercial and investment links between our countries,” he adds.
Morocco aims to achieve a comprehensive energy transition and to become a regional superpower in green energy in the long term. From Finland’s point of view, Morocco is an interesting market that, due to its geographical location, also serves as a gateway to the growing African market.
Bilateral relations between the two countries are excellent, and they have already cooperated in many sectors, with energy offering the greatest potential. There is growing interest in and opportunities for economic cooperation in water, wind and solar energy. Morocco has set the target to exceed 52 % of installed electrical capacity of renewable origin by 2030..
In addition to renewable energy and clean energy technologies, Morocco is interested in information and communication technology as well as waste and water treatment plants, in which Finland has significant knowhow. The Team Finland network in Rabat and the Business Finland office in Casablanca, which was opened in 2019, are helping Finnish companies to access the Moroccan market and making Morocco better known in Finland.
The Memorandum of Understanding was prepared in Finland by the Ministry of Economic Affairs and Employment with the support of the Ministry for Foreign Affairs and together with the energy industry. The Finnish companies’ current plans include consolidating their position in Morocco and raising awareness of their business in North and West Africa.
Inquiries:
Leila Vilhunen, Chief Specialist, Ministry of Economic Affairs and Employment, tel. +358 29 504 7120 (EU and international affairs)
Annukka Saari, Senior Specialist, Ministry of Economic Affairs and Employment, tel. + 358 50 303 0704
Pekka Hyvönen, Ambassador, Ministry for Foreign Affairs, Embassy of Finland in Rabat, tel. +212 661 154 337