Morocco in the sights of two Israeli companies

In a press release, Enlight Renewable Energy (ENLT) announced the signing of an agreement which aims to initiate, develop, finance, build and operate renewable energy projects in Morocco, United Arab Emirates, Bahrain, Oman, Saudi Arabia, Egypt and Jordan”.

The aforementioned Israeli company said that the cooperation will highlight the great experience and expertise of the two Israeli companies in the field of energy, noting that this cooperation aims to promote projects of mutual interest in the countries of the region. .

“The project will tap into what we see as a very significant opportunity in the region that started with natural gas. And this is a development largely led by NewMed Energy”said Gilad Yevertz, CEO of ENTL, quoted by Bloomberg.

The CEO of ENTL emphasized in his statement “ that together we can be very competitive with the world’s largest players in this field“, before specifying that ” countries in the Middle East and North Africa are aware of the importance of renewable energy”.

In a parallel statement to the Tel Aviv Stock Exchange (TASE), the two companies said the projects will focus on several areas, including solar power generation, wind power and energy storage.

Founded in 2008, Enlight Renewable Energy is a company specializing in “ the global development of renewable energy and independent energy production » which generates clean energy in Israel, Europe and the United States, according to the company’s website.

As for NewMed Energy, formerly known as Delek Drilling, it specializes in oil and gas exploration.

Founded in 1993, NewMed Energy announced its “ made history with its unprecedented agreements with Egypt, Jordan and the United Arab Emirates, which promoted peace and increased stability in the Middle East “.

It should be noted that after the signing of the “Abraham Accords”, brokered by the United States in December 2022, relations between Morocco and Israel have continued to develop significantly in various sectors, including renewable energies. .

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