Solar case study Training and development ACWA Power says that it invests in the training and development of local communities to provide the necessary skills to operate and maintain the plant.
Each project has been developed in conjunction with and with guidance from the local authorities, national training organisations and relevant government ministries, to ensure that they are appropriate and properly resourced to maximise impact on the local people. This successful example in Morocco demonstrates the benefits of inclusive growth models, which allow companies like ACWA Power to confidently invest in emerging markets to deliver the much needed electricity – and green electricity at that – to fuel economic development and the social wellbeing of communities and nations. “From the moment we place our capital in a country, we become concerned about the long-term health, wealth and happiness of the people, as it is only their success and prosperity over the next few decades that will allow them to afford the electricity that we are supplying and in turn enable our investment to be successful. Thus, for us,
our investment in community development initiatives is just that – an investment, and not a cost,” explains Paddy Padmanathan, president & CEO of ACWA Power. “We invest in the training and development of the local community to provide the necessary skills for plant operation and maintenance over 25 years, and it is an investment in nurturing local SMEs and education and healthcare facilities to drive social development and economic growth. “At the same time, the local communities invest their time and talent to acquire the skills and know-how to provide a brighter long-term future for them and their families, with the confidence that the growing economic activity in that locale will enable them to participate with this new-found knowledge and capability. It’s a perfect symbiotic union.” Through job creation, energy generation and reduction of Morocco’s carbon footprint, the Noor project will continue to have a positive socioeconomic
impact on the local community and Morocco as a whole for many years to come. In early February, just a month after the Phase 1 project started to dispatch electricity, Moody’s investor service issued their routine report on the credit standing of Morocco. Given that Morocco relies for 95% of its energy needs on imported fuel, all of it fossil, the analysis showed that the harnessing of significant renewable domestic energy resources is not only creditpositive from an environmental sustainability perspective, but also highly impactful, helping to permanently reduce Morocco’s balance of payment sensitivity to higher energy prices. Moody’s evaluation confirmed that from an economic perspective, 1 million TOE represents about 4.8% of energy imports in volume terms in 2015. At last year’s oil prices, the savings from reduced imports would have amounted to about 0.3% of GDP. A huge impact from just this one project.
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