COP22: Energy efficiency, pillar of sustainable development strategies
CDG Group, first institutional investor in Morocco, announces the setting up of an Energy Services Company (ESCO) in partnership with the National Office of Electricity and Drinking Water (ONEE) and the Moroccan Agency of Energy Efficiency (AMEE, former ADEREE).
Thursday, November 17th 2016, Casablanca - In Morocco, like in many countries, energy efficiency does not spark the same enthusiasm as renewable energies. CDG group, the country's largest institutional investor and major supporter of Morocco’s public policies promoting strategic sectors, wishes to contribute, through this ESCO, to raising energy efficiency as a strategic priority for the country.
A company serving public institutions in Morocco
In line with their general interest mission, AMEE, CDG and ONEE aim to support the achievement of national energy reduction objectives, which target a 12% reduction by 2020 and 15% by 2030. By creating this ESCO, the three partners plan to work on two separate cornerstones: the public buildings sector and the public lighting sector.
Regarding the first focus, the company's mission is to support public administrations in terms of energy autonomy and efficient upgrading of their buildings, namely primary to higher education schools, hospitals, prisons, sports and cultural facilities and military camps.
The second keystone is to assist municipalities in reducing their energy bills due to public lighting. This item accounts for a significant portion of the municipalities' operating budgets.
Finally, a credit line dedicated exclusively to energy efficiency in public buildings and public lighting will be set up with international financial sponsors. Several development banks, such as the Agence Française de Développement, have already expressed their interest in supporting this initiative.
The emergence of national champions and of a market linked to energy efficiency
The creation of this ESCO will contribute, indirectly, to creating a market with high potential that is waiting to be realized. An ecosystem built around energy efficiency and autonomy, which will be composed, among other things, of energy auditing firms, energy efficiency equipment and solutions suppliers and photovoltaic panels installers. The ultimate goal is the emergence of national champions capable of growing internationally, especially towards sub-Saharan Africa.