The manufacturing and logistics platform Saray Immo signed a 12-year solar power agreement with Norway’s solar power financier Empower New Energy. The 12-year contract, a $3,5M investment, covers the financing, construction and operation of two solar plants totalling a capacity of 5,8 MWp which will be installed on the Saray Immo buildings
and on the site for the sister manufacturing company Tanakoo, both in Berrechid Casablanca. The project was co-developed by Empower New Energy and the Moroccan subsidiary of Azolis, which was awarded the EPC and O&M contracts. The signing event was hosted by the Norway’s Ambassador to Morocco, H.E Sjur Larsen.
The agreement was signed by Terje Osmundsen, CEO of Empower New Energy and Souheil Badaa, CEO of Tanakoo and representative of Saray Immo, with Azolis acting as a witness.
In attendance from left to right:
- Oussama El Azzaoui : Project Manager at Azolis
- Abderraouf Khemiri : Country Manager at Empower New Energy
- Youssef Tlemcani : Co-founder and Managing Director at Azolis
- E Sjur Larsen : Norway’s Ambassador to Morocco
- Terje Osmundsen : CEO of Empower New Energy
Souheil Badaa : CEO of Tanakoo and representative of Saray Immo
The two plants will cover a total rooftop area of approx. 49 000 m2 roofs of Saray Immo’s new and highly automated state-of-art manufacturing sites. By harnessing Morrocco’s abundant solar resources, it will generate about 9,600 MWh of clean electricity annually, reducing the company’s energy costs. The investment will also cut approximately 6000 tons of CO2 per year, contributing to Morocco’s green transition agenda. The Kingdom of Morocco aims to increase the share of renewables in its installed electricity generation capacity from 38% to 52% in 2030.
This 5,8 MWp solar project is Empower New Energy’s third and largest investment in Morocco.
“I am delighted to sign this ground-breaking solar investment project in Morocco, a country with a huge potential for sustainable economic growth but experiencing the effects of global warming” said Terje Osmundsen CEO, Empower New Energy.
“Saray Immo is proud to mark this partnership with Empower New Energy and Azolis, supported by a shared vision for a sustainable future.”, said Souheil Badaa, CEO of Tanakoo and representative of Saray Immo.
“We are excited to be part of this long-term partnership along-side Empower New Energy and Saray Immo. Together, we set a benchmark for clean energy adoption by the industrial players in Morocco and we aim to be a preferred partner to support other C&I players towards their decarbonisation efforts.”, added Youssef Tlemcani, Co-founder and Managing Director at Azolis.
“Today marks a significant milestone in the collaboration between Norway and Morocco. It is through such partnerships that we can pave the way towards a greener and more prosperous future for all.” said Sjur Larsen, the Ambassador of Norway “The agreement signed today marks the vast possibilities for cooperation between Norwegian and Moroccan business partners.”
About Empower New Energy
Established in 2017, Empower New Energy is a renewable energy financier and co-developer that finances, builds and owns clean power plants for commercial, industrial and agricultural energy users
About Saray Immo
Saray Immo is one of the largest Moroccan industrial and logistics platforms based in Berrechid, Morocco. The company specializes in the development of modern logistics and distribution centers to meet the increasing demand for quality infrastructure in Morocco, while also ensuring sustainable and efficient development practices.
About Tanakoo
Tanakoo is a Moroccan manufacturer specializing in chocolate and snacking products. The industrial unit is based in Berrechid. Tanakoo’s product range includes chocolates, and snack foods, catering to both local and international markets. The company emphasizes innovation in product development and is committed to using sustainable practices across its value chain.
About Azolis
Azolis is a solar project developer headquartered in France, with a subsidiary in Morocco established since 2014 and focusing on the Engineering, Procurement, Construction and Operation of solar plants for the C&I segment.
