Just over a year after the resumption of relations between Morocco and Israel, cooperation between the two countries is developing further.
Taking advantage of the visit of Orna Barbivay, Israel’s Minister of Economy and Industry to Morocco, private companies from both sides are strengthening their ties. This Thursday, February 24, in a hotel in downtown Casablanca, an agreement on the largest private Israeli investment in Morocco was signed between Gaia Energy on the Moroccan side, and Gandyr on the Hebrew State side.
Gaia Energy thus joins forces with its new shareholder, which plans to invest at least 13 billion dirhams over the next two years in four very advanced renewable energy projects. In detail, this investment will allow Gaia Energy to intensify the development effort of its projects in different sectors of renewable energies, spread throughout the national territory. During the presentation, private projects of green energy production under the law 13-09, related to self-production, agrivoltaics, green hydrogen, as well as the export of green electricity were mentioned. The signing ceremony was presided over by Moundir Zniber, CEO and founder of Gaia Energy, and Yoav Maoz, President of Marom, a subsidiary of Gandyr.
It was also attended by the Israeli vice-ambassador to Morocco and a representative of the Moroccan Ministry of Energy Transition and Sustainable Development. For the anecdote, Moundir Zniber revealed to the media present that the first contacts between the two parties “were established during the confinement, via the professional social network LinkedIn, and gave birth to a great friendship between two companies that everything brings together.
He also said that the energy transition is the major challenge of the 21stème century, and that it involves a structural transformation of energy production and consumption methods. For his part, Yoav Maoz said he was proud to conclude this partnership and to be present on the soil of the Kingdom, “a country very close and dear to the Israeli people”.
He hopes that this will create new opportunities for growth and open the door to new investment agreements between other companies in different fields. Gandyr has made a name for itself by investing several billion dollars in various promoter sectors, including the sale of Mobileye to Intel for $15 billion. Gaia Energy is present in 9 African countries with a project pipeline of more than 5GW in wind and solar photovoltaic projects.
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