British energy company SDX recently announced its departure from Egypt to focus on the promising renewable energy market in Morocco. This strategic decision involves the sale of all assets held by SDX in Egypt to a multinational already present in the country. The finalization of this sale is expected by the end of the year.
London-based SDX said the redeployment to Morocco would strengthen its renewable energy business and generate near-term growth in its stock market. The company also plans to seize new opportunities in Morocco’s energy infrastructure while actively supporting the country’s energy transition.
This announcement was very well received by the markets, with a 10% increase in the value of SDX shares on the London Stock Exchange on Wednesday, reaching 4.00 pence. Investors thus seem to recognize the potential of the Moroccan renewable energy market.
Morocco is indeed an attractive country for international companies operating in the field of gas exploration and clean energy transition. The country has an ambitious national strategy aimed at reaching 52% contribution of renewable energies in its energy mix by 2030, with the aim of achieving energy autonomy.
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According to Abdel Samad Malawi, Moroccan international expert in renewable energies, Morocco has become a privileged destination for many large international companies, which invest considerable sums there, sometimes reaching several tens of billions of dirhams. He also points out that the country has solid expertise in the exploration of natural gas and has already carried out major projects, particularly in the solar and wind energy sectors.
By facilitating serious investments, Morocco has created an environment conducive to accelerating the energy transition. International companies find a favorable ecosystem there, supported by attractive offers and advantageous incentives.
SDX’s decision to withdraw from Egypt to refocus on Morocco illustrates the growth and attractiveness of the Moroccan renewable energy market. More and more companies are choosing to invest in it because of its promising potential and the opportunities it offers.
This strategic move by SDX also demonstrates the willingness of companies to seize the opportunities offered by the global energy transition. By positioning itself in the renewable energy sector, SDX is part of a global dynamic aimed at reducing greenhouse gas emissions and promoting more sustainable development.
SDX intends to capitalize on this momentum and actively contribute to Morocco’s energy transition in the years to come.
