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How Morocco’s pioneering green bond and
renewable energy transition are reshaping Africa’s railways.
Tonnes of CO2 reduced yearly
Million tonnes of CO2 reduction over 30 years
Renewable energy by 2030
Direct jobs created with contractors
of civil engineering work conducted by local companies
million people with improved acess to transportation
Since 2009, Morocco has been undertaking a bold and ambitious energy transition, setting itself on course to produce more than half of its energy from renewable sources by 2030. This effort is part of a larger strategy to reduce the nation’s carbon footprint and strengthen its resilience against climate change. In this context, the Moroccan National Railways Office (ONCF) has become a driving force for sustainable development, introducing a series of transformative projects designed to support Morocco’s energy goals. Among these projects, ONCF’s high-speed rail line stands out as Africa’s first rail service powered entirely by wind energy—a testament to Morocco’s pioneering role in green infrastructure and climate-conscious innovation.
To finance this visionary project, ONCF issued Morocco’s inaugural Green Bond in 2022, securing a total of 1 billion Moroccan dirhams (roughly £80 million). This bond, the first in Morocco’s infrastructure sector, enabled ONCF to refinance the construction of the high-speed rail link connecting Tangier to Kenitra. The initiative brought together a range of strategic partners, including CDG Capital, a leader in sustainable finance in Morocco, and the European Bank for Reconstruction and Development (EBRD), whose commitment to green investments aligned perfectly with the project’s objectives. Facilitated by FSD Africa, these partnerships ensured that the Green Bond adhered to the highest standards of sustainable financing, setting a precedent in Morocco’s journey toward green investment and environmentally responsible development.
The high-speed rail line has already begun to redefine mobility in Morocco, reducing travel times and connecting cities at an unprecedented pace. Its environmental benefits are equally significant, with an anticipated reduction of over 2.5 million tonnes of CO₂ emissions over the next 30 years—equivalent to the planting of four million trees. But for individuals like Hicham, a young technician from a nearby town, this project represents much more than an impressive engineering feat. Before the construction of the high-speed line, Hicham’s job opportunities were limited, often demanding long hours away from his family. Today, he works in ONCF’s maintenance division, ensuring that the line’s operations run smoothly and safely. This role has given him both a stable income and a newfound pride in being part of something that directly contributes to his country’s fight against climate change. Stories like Hicham’s illustrate the broader impact of ONCF’s Green Bond initiative, a project that connects people, builds skills and offers hope for a greener, more sustainable future.
Equivalent to planting 4 million trees, ONCF’s green bond-funded railway reduces emissions and brings sustainable transportation to life.
By transitioning to clean energy, ONCF is making sustainable travel accessible, reducing the carbon footprint of thousands.
Morocco’s energy transition goal aligns with ONCF’s vision, marking Morocco as a leader in Africa’s renewable energy movement.
Discover insights from visionary partners championing Morocco’s transition to a sustainable future. These testimonials highlight the power of green finance in creating impactful change, from fostering resilience to pioneering sustainable infrastructure across Africa.