During the COP22 Climate Summit, held in Morocco last week, a memorandum of understanding (MoU) was signed between Siemens, PEPS and NST to promote waste to power.
Morocco World News reported that the MoU was signed between engineering company Siemens in partnership with PEPS, a branch of the Imperium Holding industrial group, specialised in turning solid waste into electricity, and NST, a French company based in Guadeloupe that specialises in renewable energy.
The engineering firm said in a statement: “The initiative aims to meet the expectations of a National Household Waste Plan, which sets a target of 20 percent recycled and upgraded waste by 2022."
Waste to power to help achieve renewable target
Having set a 52% renewable energy target by 2030, the north African country is exploring alternative energy sources to help achieve this goal.
Siemens Morocco CEO Dirk De Bilde, said: “For Siemens Morocco, this agreement with PEPS and NST is also a way of strengthening our commitment to Moroccan initiatives that can make things happen."
According to media, PEPS has already developed a waste-to-energy site in the commune of Ras El Aïn, which was officially inaugurated as part of COP22 on 8 November this year.
During the Summit, the north African's Agency for Solar Energy (MASEN) confirmed the country’s first green bonds for renewable energy.
According to PV Magazine, the bond issue, which MASEN is leading with $100 million bond for three solar projects, will form part of the Noor 170MW solar plant dubbed Noor PV 1, which will consist mainly of concentrated solar thermal power (CSP).
“The issuance of the green bonds amounts to 1.15 billion dirhams ($118 million), and will fund the solar PV projects in Laayoune, Boujdour and Ouarzazate.
“The World Bank also announced the purchase of $100 million in World Bank green bonds by the central bank of Morocco, Bank Al-Maghrib, which will be used for the bank’s reserves management," PV Magazine reported.
The green bonds mature on 15 December 2019 and have a semi-annual fixed rate coupon payment, media explained.