A big boost to Morocco-Dutch relations: Morocco and the Netherlands have agreed to set up a EUR 300 mn investment fund directed to infrastructure and renewable energy projects, Hespress reported last week. The fund is part of one of the two MoUs signed between the two nations to bolster cooperation in sustainable development, public infrastructure, and energy transition, Maghreb Arabe Press (MAP) reported on Wednesday. The agreement was signed in Salé during Dutch Prime Minister Mark Rutte’s visit to Morocco to bolster bilateral ties.

About the fund: Some 35% of the fund will be in the form of grants, while the remainder will be loans, said Alexandre Wortman, who is in charge of Dutch investment fund Invest International. Wortman said the fund will finance water and renewable energy projects over a span of three years, and he highlighted his country’s interest in investing in Morocco’s green hydrogen. He signaled a possibility of additional allocations depending on project evaluations.

There was more cooperation agreed between the two countries: Morocco and Invest International also agreed to boost cooperation in water and infrastructure, agriculture, renewable energies, sustainable industry, and health, according to MAP. The second MoU, which was signed by the Dutch PM and Morocco’s Energy Transition and Sustainable Development Minister Leila Benali, aims to develop cooperation in renewable energies and new fuels.

And more: The second MoU would back existing and future international initiatives and alliances related to renewable energies and new fuels, as well as expedite the matching of supply and demand with regards to investment and trade between producers of new renewable fuels and buyers, according to MAP. It also aims to develop new clean energy sources, especially offshore wind power, and new uses of renewable energy sources like seawater desalination.

REMEMBER- Morocco has been pushing to position itself as a hub for renewable energy due to its major solar and wind capabilities. Morocco aims to have 50-52% of its energy come from renewables by 2030, up from the current 38%, the Moroccon PM said earlier this year. Meanwhile, the Netherlands has been on a renewables hunt, signing an agreement with Saudi Arabia in May that will see Saudi Arabia establish a green hydrogen corridor to Europe with the Netherlands facilitating the entry of green fuels produced in the kingdom.

Speaking of renewables: Morocco plans to raise overall energy production from renewables to 1.3 GW annually until 2027, up from 0.16 GW generated annually between 2009 and 2022, SNRT News quotes Benali as saying at the House of Representatives. Appropriations for renewable energy projects will be more than tripled to reach MAD 14 bn (c. USD 1.4 bn) between 2023-2027, up from MAD 4 bn during 2009 to 2022, according to the minister.