ENGIE and Nareva Holding sign an agreement to pool their skills and accelerate their development in North and West Africa.
Casablanca, 24 June 2016 – Today, 24 June 2016, ENGIE and Nareva Holding, a company of SNI Group, announce the signing of a Memorandum of Understanding, strengthening their existing partnership in Morocco by extending it to other African countries.
Through this MOU, the two operators join forces to develop new power generation and energy services projects in Africa, especially in Egypt, Ivory Coast, Senegal, Ghana and Cameroon.
Sharing common objectives and benefiting from complementary skills, ENGIE and Nareva are strengthening their collaboration in order to use their extensive knowledge and recognised expertise to serve countries in the region, providing Africa with energy infrastructures that are essential for its development.
The two groups share the objective to build a portfolio of additional assets of 5,000 to 6,000 MW between 2020 and 2025, producing the equivalent of the average consumption of more than 10 million families in the countries concerned.
This agreement reinforces the close ties between the two partners, already demonstrated through the Tarfaya wind farm, the largest wind farm in Africa, and the construction of the Safi thermal power plant.
Isabelle Kocher, ENGIE CEO, said: “Strong partnerships are at the heart of ENGIE’s strategy in Africa. We are pleased to expand our presence on the continent together with Nareva, working towards a common goal: to help improve access to energy. This agreement will enable us to accelerate the provision of innovative and sustainable energy solutions for the economic and social development of Africa.“
Mr. Ahmed Nakkouch, Nareva President and CEO, said: “This agreement represents a new milestone in our relationship with ENGIE. Together, we enter into this partnership with the same pioneering spirit that inspired us during our first cooperation for the construction of Tarfaya wind farm, the largest in Africa. Together with ENGIE, we want to develop energy projects that will create value for Africa and for all stakeholders.“
About Nareva Holding
An independent electricity company, Nareva Holding provides its customers with socially responsible, competitive and sustainable services and solutions while ensuring that it creates value for its human capital, its shareholders, and its stakeholders.
Nareva Holding has a portfolio of energy assets of over 3000 MW (including 1650 MW of wind power). The Moroccan company already operates five wind farms in Morocco, including the Tarfaya wind farm (300 MW), one of the largest in Africa, and is building the Safi thermal power plant (2×693 MW).
ENGIE develops its businesses (power, natural gas, and energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation, and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 154,950 people worldwide and achieved revenues of €69.9 billion in 2015. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (Eurozone 120, Europe 120 and France 20).