REN and ONEE will present construction and financing proposal for the proposed Portugal - Morocco interconnection project.
REN and ONEE – Office National de l’Electricité et de l’Eau Potable of Morocco were mandated by the Governments of Portugal and Morocco to submit, within six months, a preliminary draft proposal for the construction and financing model for the construction of the Portugal-Morocco electric interconnection.
To this end, a working group will be created, composed of three representatives appointed by each signatory, who will meet monthly to review the progress of the preliminary draft proposal’s presentation.
The electric interconnection is crucial for Portugal and Morocco to be able to reinforce their strategies of investing in renewable energy, enabling its export to two continents, from Europe to Africa and from Africa to Europe.
The Joint Statement of the two countries emphasizes the need to ensure the conditions to export the “green energy” both countries generate, which, in turn, requires a strengthening of the electric interconnections between the Portugal and Morocco.
Source: Company Press Release