|Approval Date||13 Jan 2021|
|Signature Date||06 Dec 2021|
|Planned Completion Date||01 Jan 2024|
|Last Disbursement Planned Date||31 Dec 2023|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||23220|
The Société d'Investissements Energétiques (SIE) is a public institution created in 2010 to stimulate investments, especially private investments in renewable energy (RE) and energy efficiency (EE). Due to Morocco's new strategic directions and to move from a pure financier to a facilitator, developer and investor, the Board of Directors (BoD) of SIE approved its transformation into an Energy Services Super Company (ESCO1) in October 2018. Under its new identity "Energy Engineering Company" (hereinafter referred to as the Super ESCO) EIS is exclusively dedicated to the execution of energy efficiency projects for the public buildings, street lighting, mobility and industrial sectors. An action plan and investment strategy was developed by PwC-Berliner Energieagentur GmbH as part of the repositioning study and approved by the Board of Directors (BoD) in January 2020. This new transformation into an ESCO service provider requires restructuring and the development of new technical, management and accounting procedures, tools and competences. In the past, EIS has already arranged financing for various EE projects (Marrakech city lighting: 87 million MAD (Moroccan Dirhams, indicative exchange rate: 1 USD = 8.97 MAD as of December 26, 2020), 37% energy savings; Green Mosques Program: 6 million MAD, 40% energy savings; Ministry of General Affairs and Governance: 1 million MAD, 49% energy savings).
SEFA's planned Technical Assistance (TA) will enable the transformation of the EIS into a Super ESCO and help develop bankable EE projects. The two components of the SEFA TA are as follows: Component 1: Creating an Enabling Environment; and Component 2: Developing a Portfolio of Bankable EE Projects and Implementation Strategy. At the beginning of the TA project implementation, it is planned to recruit an independent individual consultant to assist the Super ESCO in the TA recruitment process.
The new entity (the Super ESCO) will be the beneficiary. It is the result of the transformation of the EIS, a public institution, created in 2010 to boost investments, especially private investments in EE & RE. The EIS Board decided to follow the experiences of other countries such as Croatia, Germany, India, United Arab Emirates, United States of America, Saudi Arabia and changed the focus of the company to focus exclusively on the execution of EE projects by acting as a national Super ESCO.
Sustainable Energy Fund for Africa
|Last Update||24 Mar 2023|