Attijariwafa bank Launches Morocco's First Investment Fund dedicated to Energy Efficiency Projects

In a significant step towards promoting sustainability, Attijariwafa bank Corporate and Investment Banking recently launched the African Energy Efficiency Fund (FAEE), a groundbreaking initiative aimed at fostering energy efficiency across the African continent. This fund seeks to drive innovative and impactful energy efficiency projects, advancing sustainable development while addressing environmental challenges.

Key Highlights of the Launch Event

The launch, held on September 20th, 2024, brought together over 120 participants from various sectors, including institutional, corporate, and large companies. Themed “Financial innovations for a sustainable energy transition in Africa,” the event featured prominent experts in green finance and energy efficiency, who explored the technical, financial, and regulatory hurdles facing energy efficiency projects in Africa.

Noteworthy speakers at the event included:

• Pierre Langlois, President of Econoler, a global leader in energy efficiency for over 40 years
• Youssef El Fath, Industry Director at VINCI Energies West Africa
• Brahim Ouazzani Chahdi, Group Investment Director at Wafa Assurance
• Mehdi Benjelloun, Delegate General Manager of Attijari Capital Management, which manages the African Energy Efficiency Fund

This panel provided a platform for experts to share insights on how to overcome the challenges and tap into Africa's potential for sustainable energy projects, taking into consideration the continent’s unique realities.

Attijariwafa bank and Econoler Partnership

A key partnership in the FAEE is with Econoler, a firm with over 40 years of experience in the design, implementation, evaluation, and financing of energy efficiency and renewable energy programs. Econoler has an impressive track record, having developed around 4,000 projects in over 160 countries. This international expertise positions Econoler as a critical player in ensuring the success of energy efficiency projects backed by the FAEE.

Econoler's role in the FAEE is crucial, bringing its recognized knowledge in financing mechanisms and implementation strategies adapted to the African market. This collaboration aims to deliver comprehensive solutions to African companies, helping them meet their energy efficiency and decarbonization goals.

Strategic Focus on Energy Transition

The FAEE represents Attijariwafa bank’s broader commitment to accelerating the energy transition for Moroccan and African businesses. As Youssef Rouissi, Delegate General Manager in charge of Corporate and Investment Banking, emphasized during the event, the bank is focused on mobilizing both human and financial resources to balance the high social impact of these projects while ensuring their bankability.

The FAEE also signed a Memorandum of Understanding (MOU) with VINCI Energies, reinforcing the technical support available for implementing energy efficiency projects for clients. This partnership ensures that technical expertise is available to make these projects operational and sustainable.