Through its subsidiary Marom, the Israeli group of Gandyr joins forces with Gaia Energy Morocco. Together, they announced 13 billion dirhams of investments over the next two years in the renewable energy sector in Morocco.
“Marom becomes a minority shareholder of Gaia Energy Maroc, with equally shared governance,” said Moundir Zniber, president of Gaia Energy, in a statement to Médias24. The two groups signed an agreement on Thursday, February 24, 2022, in Casablanca.
Gandyr’s investment, through its subsidiary Marom, will make it possible to intensify the development of Gaia Energy Morocco’s projects in various renewable energy sectors, including private green energy production projects under Law 13-09, in four areas: self-production, agrivoltaism, green hydrogen and the export of green electricity.
Created in 2009 by Moundir Zniber, Gaia Energy is a company specializing in the development of renewable energies in Africa. Its core business is to develop, finance, build and operate renewable power plants. The company is present in nine African countries, with a pipeline of projects of more than 5 GW in the wind and solar photovoltaic.
“We have 22 mainly wind projects in North Africa, West Africa, and East Africa. In Morocco, we have a large portfolio of projects, largely related to wind power and solar photovoltaic (PV)”, explains Moundir Zniber, president of Gaia Energy.
Marom, a subsidiary of Gandyr, a company specializing in renewable energy in Israel, is currently expanding its activities to other markets around the world.
“The 13 billion dirhams of investments planned include the part-financed by our partners, as well as the banks which will ultimately finance 75% of our projects”, indicates Moundir Zniber.
“We are not preparing to raise funds for the four aforementioned projects, the amount of equity required having already been made available by our partner. For example, we have a major project with the Iberdrola group, the world number two in installed renewable capacity, where we are at 49/51.
“Integrate new Israeli technologies”
“One of the great interests of our partnership is to include new Israeli technologies in our projects,” says Moundir Zniber. Gaia Energy is collaborating, “at this very moment, with an Israeli company that has invented an innovative compressed air storage solution, which gives better yields than Lithium at much more attractive prices. We also have an opening on new technologies in the sector of agrivoltaism, solar, desalination. »
One of Gaia Energy’s missions will be to provide all clean technologies, adapted to the desert and arid climate, from Israel, in order to support Morocco in its green transition.
“This collaboration forces us to recognize the importance of the role of the private sector in strengthening between the two peoples united by ancestral ties… We are confident in the success of this unique partnership which represents, to date, the largest private investment Israel in Morocco,” Moundir Zniber said at the signing of the agreement.
