Masdar city has signed a framework agreement with Morocco during the 6th World Future Energy Summit held last week in Abu Dhabi to cooperate in renewable energy solutions.
For his part, the Moroccan Minister Fouad Douiri said Morocco, which focused on the development of its renewable energy, sees the benefits in building a valuable cooperation with renewable energy players, adding that Morocco plans to invest 20 billion U.S. dollars in renewable energy solutions by 2020.
Masdar, the home of seven percent of the world’s known oil reserves, owned by the Emirati sovereign wealth fund Mubadala, aims to promote sustainability by promoting the use of renewable energy like solar power, wind energy or bio-thermal heat.
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