Latest news with #Maroc
Yahoo
27-05-2025
- Business
- Yahoo
Casino to introduce Franprix and Monoprix retail brands in Morocco
French convenience retailer Casino Group has partnered with Moroccan conglomerate H&S Invest to introduce its retail brands in Morocco. The collaboration seeks to establish 210 Franprix and Monoprix stores across the country by 2035. The alliance is part of Casino Group's international growth plan through franchising. The group, with operations spanning 30 nations, already collaborates with 472 franchised outlets outside mainland France, contributing to 3.5% of its net sales in 2024. Casino Group CEO Philippe Palazzi stated: 'This partnership with H&S Invest Holding is fully in line with our strategy of expanding internationally through franchising. It illustrates our ability to leverage the strength of our brands, our logistics know-how and our expertise in convenience retailing in a market as dynamic as Morocco. 'Thanks to H&S Invest Holding's deep local roots and solid operations, we will be able to rapidly roll out a network of high-performance convenience stores in step with changing consumer habits in Morocco.' H&S Invest views the partnership as an opportunity to diversify its retail division. The introduction of Franprix and Monoprix is expected to improve the Moroccan convenience retail landscape. Franprix operates convenience stores in cities and towns while Monoprix offers food, apparel, home goods, beauty products and leisure items. The inaugural stores will launch in 2026 and will offer a curated selection of fresh goods, and a substantial quantity of local products. H&S Invest Holding chairman Moncef Belkhayat stated: 'We are proud to be partnering with a major international player like Casino Group. This strategic partnership will enable us to offer a new customer experience in the Moroccan market. By 2030, we aim to create more than 1,000 direct and indirect jobs across the Kingdom through the roll-out of the Franprix and Monoprix banners.' In the first quarter of fiscal 2025, net sales of the Monoprix brand dropped 0.6% and Franprix's sales by 1.7%, compared to the same period in fiscal 2024. "Casino to introduce Franprix and Monoprix retail brands in Morocco" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
25-05-2025
- Business
- Zawya
Morocco secures €300mln from EIB and KfW to strengthen grid, boost renewables
Morocco's National Office of Electricity and Drinking Water (ONEE) has secured €300 million in financing from the European Investment Bank (EIB) and the German development bank KfW to strengthen its electricity transmission infrastructure and support the country's energy transition. The funding, which includes €170 million from the EIB and €130 million from KfW, will be used to upgrade and extend the national grid by 731 km and increasing its evacuation capacity by 1,850 MVA, accordinng to a Frenck language press statement by EIB. The investment is part of ONEE's broader 220 billion Moroccan dirhams ($21.7 billion) roadmap through 2030, with MAD 177 billion dedicated to the power sector. The financing complements earlier investments such as the 270 MW Jebel Lahdid wind farm, co-financed by the EIB, KfW, and the European Union. ONEE has an installed capacity of 12,017 megawatts (MW), 45.4 percent of which comes from renewable energy, and is developing 12.5 gigawatts (GW) of additional capacity by 2030. Morocco is aiming for 56 percent of installed capacity from renewables by end-2027. (Writing by Majda Muhsen; Editing by Anoop Menon) (
Asharq Al-Awsat
23-05-2025
- Business
- Asharq Al-Awsat
Moroccan Utility ONEE Granted $340 Million in Loans for Energy Transition
Moroccan water and power utility ONEE said it has been granted 300 million euros ($340 million) in loans from the European Investment Bank (EIB) and German state lender KfW to support integration of renewable energy into the national grid. The financing package comprises 170 million euros from the EIB and 130 million euros from KfW, the utility said on Friday, adding that the money will be used to expand its electricity transmission network by 730km. ONEE plans to invest $19 billion in its electricity development plan through 2030, the year Morocco will co-host the World Cup soccer tournament, together with Spain and Portugal. The plan aims to increase installed renewable energy capacity to 56% of the country's total electricity capacity by 2027, three years ahead of the 2030 target, according to Reuters. Currently, installed renewable energy capacity stands at 45%, or 5.5GW. ONEE said it will add 15GW of installed electricity capacity, including 12GW from renewable sources by 2030. Last week ONEE signed a deal with the United Arab Emirates' TAQA to build a 1,400 km high-voltage transmission line with a capacity of 3,000 megawatts linking Western Sahara's renewable energy sites to central Morocco. Coal still accounts for more than 70% of Morocco's energy production. Seeking to diversify its coal-dependent energy sector, Morocco began in April a tendering process to build a liquefied natural gas terminal in the Mediterranean port of Nador.
Zawya
23-05-2025
- Business
- Zawya
Moroccan utility ONEE granted $340mln in loans for energy transition
Moroccan water and power utility ONEE said it has been granted 300 million euros ($340 million) in loans from the European Investment Bank (EIB) and German state lender KfW to support integration of renewable energy into the national grid. The financing package comprises 170 million euros from the EIB and 130 million euros from KfW, the utility said on Friday, adding that the money will be used to expand its electricity transmission network by 730km. ONEE plans to invest $19 billion in its electricity development plan through 2030, the year Morocco will co-host the World Cup soccer tournament, together with Spain and Portugal. The plan aims to increase installed renewable energy capacity to 56% of the country's total electricity capacity by 2027, three years ahead of the 2030 target. Currently, installed renewable energy capacity stands at 45%, or 5.5GW. ONEE said it will add 15GW of installed electricity capacity, including 12GW from renewable sources by 2030. Last week ONEE signed a deal with the United Arab Emirates' TAQA to build a 1,400 km high-voltage transmission line with a capacity of 3,000 megawatts linking Western Sahara's renewable energy sites to central Morocco. Coal still accounts for more than 70% of Morocco's energy production. Seeking to diversify its coal-dependent energy sector, Morocco began in April a tendering process to build a liquefied natural gas terminal in the Mediterranean port of Nador. (Reporting by Ahmed Eljechtimi Editing by David Goodman and Susan Fenton)
Bloomberg
21-05-2025
- Business
- Bloomberg
Morocco Aims to Double Electricity Capacity by 2030 World Cup
Morocco plans to more than double its power generation capacity by 2030, when it co-hosts the FIFA World Cup, Energy Transition Minister Leila Benali said. Renewable sources will make up 80% of the increase to 27 gigawatts, from 12 gigawatts now, Benali told a chemical industry forum in the capital Rabat on Wednesday. The expansion, including public and private investment, will cost a total 120 billion dirhams ($13 billion), she said.
