Greening's Strategic Withdrawal from Morocco and Beyond

Greening, the Spanish renewable energy group, has officially confirmed its withdrawal from Morocco, a country where it established its first international operation back in 2013. In addition to Morocco, the company is also exiting France and is in the process of leaving Germany as part of a broader restructuring initiative aimed at significantly reducing its operational costs by more than 50%.

Ignacio Salcedo, the CEO of Greening, has categorized both France and Morocco as "non-strategic markets". In a recent post on LinkedIn, he confirmed the company's exit from these two countries while noting that the departure from Germany is still ongoing.

This downsizing of Greening's international presence coincides with a substantial decline in operational costs compared to the previous year. Salcedo expressed a desire to concentrate the company's resources on markets where it believes it can generate greater value and profitability, alongside a simplification of its organizational structure.

Reflections on Greening's Departure from Morocco

For Greening, leaving Morocco signifies the closure of a chapter that began thirteen years ago, when the company opened its first office outside Spain in the kingdom. Notably, in 2018, Greening executed its most significant photovoltaic self-consumption project at that time in Morocco. However, the decision to divest was not made overnight; prior to this announcement, the strategic plan for 2026-2030 had already identified Morocco, along with Germany and Mexico, as markets from which Greening intended to disengage, as reported by Diario Siglo XXI.

This choice comes even as other Spanish groups continue to actively participate in significant Moroccan projects related to water and energy, including firms like Acciona, Cox, and Lantania. Greening's new strategy, however, places a stronger emphasis on Spain and Italy. In the United States, their plan, outlined in April, adopts a different approach: developing energy projects for resale to investors.

Moreover, the company is focusing on industrial self-consumption, electricity sales, and battery storage. Greening also aims to collaborate with partners to develop biomethane activities and solar panel recycling initiatives.

As reported by bladi.net.