Morocco - Technical Assistance for the development of a Super ESCO — Morocco

Overview

The Société d'Investissements Energétiques (SIE) is a public institution created in 2010 to stimulate investments, especially private investments in renewable energy (RE) and energy efficiency (EE). Due to Morocco's new strategic directions and to move from a pure financier to a facilitator, developer and investor, the Board of Directors (BoD) of SIE approved its transformation into an Energy Services Super Company (ESCO1) in October 2018. Under its new identity "Energy Engineering Company" (hereinafter referred to as the Super ESCO) EIS is exclusively dedicated to the execution of energy efficiency projects for the public buildings, street lighting, mobility and industrial sectors. An action plan and investment strategy was developed by PwC-Berliner Energieagentur GmbH as part of the repositioning study and approved by the Board of Directors (BoD) in January 2020. This new transformation into an ESCO service provider requires restructuring and the development of new technical, management and accounting procedures, tools and competences. In the past, EIS has already arranged financing for various EE projects (Marrakech city lighting: 87 million MAD (Moroccan Dirhams, indicative exchange rate: 1 USD = 8.97 MAD as of December 26, 2020), 37% energy savings; Green Mosques Program: 6 million MAD, 40% energy savings; Ministry of General Affairs and Governance: 1 million MAD, 49% energy savings).