The agreement unites the government, the National Office of Electricity and Drinking Water (ONEE), the Moroccan Agency for Sustainable Energy (MASEN), and the National Agency for Strategic Management of State Holdings and Monitoring of Public Establishments and Enterprises (ANGSPE).
The convention was formally signed by the Minister of Economy and Finance, the Minister of Energy Transition and Sustainable Development, and the Deputy Minister in charge of Budget, alongside the Director General of ANGSPE, the Director General of ONEE, and the President and CEO of MASEN.
The agreement is designed to rationalise costs across the energy value chain while ensuring an equitable division of responsibilities between ONEE and MASEN. It also guarantees contractual and economic stability for renewable energy projects, in line with state participation policy objectives.
Speaking at the event, Akhannouch highlighted that renewable energy currently accounts for 46% of Morocco's installed electricity capacity. The government aims to raise this share to over 52% by 2030, in line with King Mohammed VI's vision for sustainable development.
"This convention will inject new momentum into the National Renewable Energy Program and strengthen partnerships between the government and public institutions in the renewable energy sector," Akhannouch said.
The signing coincided with Morocco's third National Industry Day, where Akhannouch also addressed the growth of "Made in Morocco" products. He reported that the added value of the manufacturing sector rose to 3.3% in 2024, up from 3.1% in 2023. Industrial exports reached MAD 389 billion ($38.9 billion), with foreign direct investment in the sector accounting for more than 35% of total incoming flows, reflecting Morocco's progress in building a competitive industrial ecosystem.
The government has supported industrial expansion through major infrastructure investments, including the Tanger Med port, over 1,600 kilometers of highways, and a high-speed rail extension connecting Casablanca to Marrakech. More than 150 industrial zones have been established, and over 400,000 hectares of industrial land have been mobilised to attract leading investors and develop high-value sectors such as automotive, aeronautics, pharmaceuticals, and electronics.
In addition, recent reforms -- including tax adjustments, accelerated VAT refunds, and improvements under the new Investment Charter -- aim to enhance industrial competitiveness. Stable electricity pricing since 2022 has also shielded companies from global energy shocks, helping maintain industrial competitiveness while supporting the transition to clean energy.
Looking ahead, Morocco is focusing on decarbonising industry through the development of green hydrogen and access to competitively priced green electricity to meet international market demands. Ten years after the launch of its first integrated industrial strategies, the country has doubled most performance indicators, with manufactured products now representing 87% of national exports and the industrial sector emerging as a major employment provider.