Energy: The largest private Israeli investment in Morocco
BIG deal in energy in Morocco! The Israeli group Gandyr plans to invest 13 billion MAD. To this end, it has just joined forces with the Moroccan group Gaia, a leading player specialized in the development of renewable energy projects in Africa. “We are proud to announce this major investment in Gaia Energy, to consolidate its development in Morocco, create new growth opportunities, and make Gaia a champion in the renewable energy and green hydrogen sector,” said Yoav Maoz, president of Marom, a subsidiary of the Israeli group Gandyr.
With this alliance with this new shareholder, Gaia Energy will invest 13 billion MAD in the next two years through four projects in RE (renewable energy). “The investment of Gandyr through its Moroccan subsidiary will make it possible to intensify the development effort of Gaia Energy projects in different sectors of renewable energies, and in several regions of Morocco”, announced the two partners. Among the first markets scheduled are private projects for the production of green energy, self-production, agrivoltaics, green hydrogen, and the export of green electricity. To guarantee the success of its various projects in Morocco, Gaia Group has initiated 6 joint ventures with world leaders in the field of energy such as the Spanish group Iberdrola or the Italian Enel. In the same vein, Gaia Energy has established first-rate transformational partnerships in Morocco and Africa, with major energy multinationals, industrialists, investors, and financial institutions such as the IFC, CFM, GE, Vestas, Baywa, REPP, and others.
According to Zniber Moundir, President of Gaia Energy: “We are confident in the success of this unique partnership, as it represents the largest private Israeli investment in Morocco to date”. Zniber Moundir added: “The energy transition is undoubtedly the major challenge of the 21st century. It involves a structural transformation of the energy production and consumption methods. It is in this spirit that Gandyr and Gaia wish to provide sustainable solutions to national and international challenges.” In addition, the Israeli group NewMed Energy is looking to join the exploration sector in Morocco. NewMed, which has changed its name, is now called Delek Drilling. It is one of Israel’s leading energy companies.
Fact sheet
FOUNDED in 2009 by Zniber Moundir, the Moroccan group Gaia Energy is a key player in the development of renewable energy projects in Africa. Its core business is to develop, finance, build, and operate renewable power plants. Gaia Energy operates in 9 African countries with a project pipeline of over 5 GW in wind and solar photovoltaic. As far as the Israeli group Gandyr is concerned, it invests in sustainable businesses in the fields of industry, technology, real estate, and renewable energy. Gandyr is a family-owned holding company that has already invested several billion dollars in various sectors. Among its main references is the sale of Mobileye to Intel for fifteen billion dollars. As far as Marom is concerned, it is a subsidiary of Gandyr. It is one of the major players in renewable energy in Israel. It is also involved in several projects and markets around the world.
Amin RBOUB
