Iberdrola, IFC Team Up to Drive Renewables in Morocco

Spanish renewable energy giant “Iberdrola” has confirmed its commitment to developing new green projects in Morocco. In partnership with the International Finance Corporation (IFC), a member of the World Bank Group, Iberdrola aims to shore up clean energy and decarbonization efforts in multiple countries, according to a press release by the company.
Discussions are under way for a “green loan” tied to sustainability indicators for renewable energy projects in emerging markets such as Brazil, Morocco and Vietnam.
Alfonso García Mora, Vice President of IFC for Europe, Latin America, and the Caribbean, highlighted the coalition’s significance, saying “we are proud of our collaboration with Iberdrola in emerging markets. The loans we have signed represent the first step in a broader collaboration that will promote energy transition in Brazil, Poland, Morocco, and Southeast Asia.”
“With this agreement, we are making progress in energy transition, decarbonization, and electrification in developing countries, where Iberdrola has already a foothold,” said José Sainz Armada, the company’s Director of Finance, Control, and Corporate Development.
As a global leader in clean energy, networks, and storage, Iberdrola has been at the forefront of the clean energy sector for over two decades.