Morocco: Attijariwafa bank and Schneider Electric join forces for energy transition

Attijariwafa bank and Schneider Electric have made a joint commitment to the development of energy efficiency in Morocco and Africa. On the occasion of COP 28, a partnership agreement was signed between the two entities, under the aegis of the Ministry of Energy Transition and Sustainable Development.

This memorandum of understanding, signed in Dubai at COP 28, marks a significant step forward for Attijariwafa bank and Schneider Electric towards sustainable energy transition. The event was held at the Morocco Pavilion, with the support of the Ministry of Energy Transition and Sustainable Development.

Youssef Rouissi, Chief Operating Officer of Attijariwafa bank, highlighted the aim of this protocol, which aims to integrate the African Energy Efficiency Fund into their activities. The bank is committed to supporting companies, large and small, Moroccan and African, in improving their energy efficiency, thus promoting their energy transition.

For his part, Aziz Al-Waer, deputy director of development strategy in Africa at Schneider Electric, underlined the aim of this agreement, which is to promote energy conservation in Moroccan industry and support its expansion in Africa. Attijariwafa bank's extensive presence on the African continent reinforces Morocco's role as a major industrial hub in the sustainable energy sector on a continental scale. The agreement aims to formalize a fruitful collaboration between the two companies.

The partnership between Attijariwafa bank and Schneider Electric will focus on the development and implementation of energy efficiency solutions, including the supply of equipment and electrical solutions for new and renewable energy plants, in line with the Kingdom's National Energy Strategy. This bilateral collaboration will cover several aspects, including identifying eligible customers and projects, carrying out technical, financial and contractual studies, and financing energy efficiency projects.

The Minister for Energy Transition and Sustainable Development, Leila Benali, stressed the crucial importance of this agreement in bridging the energy efficiency gap and aligning it with the objectives of the National Energy Strategy.

This agreement is seen as a key pillar of the national energy strategy, paving the way for new financial solutions designed to improve citizens' purchasing power while raising awareness of energy conservation. Schneider Electric, as a supplier of advanced technological equipment for energy savings, aspires to play an active role in achieving Morocco's goal of carbon neutrality, and to promote energy efficiency in Africa through the African Energy Savings Fund.