(Ecofin Agency) - South Korean investors are interested in the Moroccan power sector. Indeed, they have signed with the authorities of the kingdom a framework-agreement for the integration of both countries’ markets.

“We are opened to all suggestions. We are bringing our technological know-how and our expertise to Morocco and, also, to explore new ways for cooperation Africa. For us, the Moroccan power market is the most important in Africa. It has a great potential, be it in the electricity, wind and solar sectors,” said Sechang Chang, CEO of Korea Electrical Manufacturers Associations (Koema).

Moroccan authorities, for their part, have already provided the investors information about potential investments, both in the renewable and traditional power sectors of the country.

“The South Korean is interesting in more than a way. These are investors who regroup as a consortium to take over other markets. Moreover, the power industry is ranked as 6^th largest worldwide. Moroccan industrials will be able to integrate these ecosystems to take over the African market and also benefit from technology transfer,” said Driss Zouani, vice president of Morocco’s national federation for electricity, electronics and renewable energies (FENELEC). 

Morocco’s power sector will require more than $25 billion worth of investments by 2030.

Gwladys Johnson