Masen announces first 1.15 billion Moroccan dirham green bond issue

By Tali Rackner

Norfolk, Va., Nov. 9 – Moroccan Agency for Solar Energy (Masen) chairman Mustapha Bakkoury announced the first green bond issue in Morocco of 1.15 billion dirhams (about €100 million), according to a press release.

The funds raised will help finance three new photovoltaic stations in Morocco, with an aggregate capacity of 170 megawatts.

“Other speakers added that the development of ‘green bonds’ is a response to growing demand from investors looking to reduce the carbon footprint of their portfolios and projects,” the release said.

Masen is based in Rabat, Morocco.

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