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  • Donec tellus enim, fermentum et sollicitudin
  • Donec tellus enim, fermentum et sollicitudin
  • Donec tellus enim, fermentum et sollicitudin
  • Donec tellus enim, fermentum et sollicitudin
  • Make the right investment to boost your competitiveness
  • Save at least 20% on your energy bill
  • Get 10% incentive back after your investment is complete
  • Get free technical assistance to assess your project
  • Modernize your industry, increase your profitability and competitiveness
  • Retrofit your hotel, reduce your operating costs, and improve your image
Frequently Asked Questions

No individual MorSEFF loan for a project or a group of projects with any one borrower may exceed 50 million dirhams*; for leases, the limit is 10 million dirhams*. Maximum investment costs of a given individual project may not exceed 150 million dirhams. However, if a project or a group of projects exceeds 50 million dirhams, the Moroccan Partner Bank may complement the loan under the MorSEFF programme with additional loans in order to finance such a project. * Note: Exact max loan/lease limits are 5 million euros and 1 million euros, respectively; conversion rate used is 1 EUR = 10 DH and may be updated from time to time.
 Up to 100% of the total investment costs can be financed with a loan / lease from the MorSEFF programme, provided that the total loan / lease amount is within the respective loan / lease category limit. For construction of commercial buildings projects, limits are up to 30% of the total investment costs excluding land.
MorSEFF is a flexible financing product that can be either in the form of a loan or a lease. The decision is up to the Participating Bank and the Client/Borrower.
The currency of the loan depends on the agreement between the Partner Bank and the borrower.
Yes, however, in the case of new construction, financing can reach of up to 30% of the total construction cost (excluding land) and can only include equipment registered in the LEME database. Furthermore, investments must comply with the Buildings Code with respect to new buildings' envelope (insulation, windows…) and the use of efficient lighting and solar water heaters. The eligibility of the project will be checked by the Project Consultant who may require additional measures to be incorporated in the design for meeting the Building Code requirements. 
 Except when it comes to purchasing LEME equipment (lease / loan of up to 100% investment cost not to exceed 3 000 000 DH), greenfield investments in new production facilities are not included in the scope of the MorSEFF programme.However, the expansion of an existing production facility is eligible for financing if existing equipment is replaced with equipment of higher capacity and if

  • the capacity expansion is less than double the current capacity, and
  • the energy consumption per unit of output is reduced as compared to a baseline (determined by the Project Consultant) as a result of such replacement. 

No, the programme is designed to finance energy efficiency and renewable energy projects of private sector companies. The company applying for financing under MorSEFF should have at least 50% private ownership. This applies to ESCO companies and their beneficiaries which both need to meet this requirement.
Yes, he can, but he would need to apply for financing with one of the Moroccan Partner Banks.
This is entirely up to you. The MorSEFF Project Consultant team will not advise you about which Partner Bank to select, nor about their interest rates, grace periods or other conditions.
No - it's a straightforward and quick process. Although MorSEFF loans / leases do involve technical and financial documentation, most of the assessment work is carried out by the MorSEFF Project Consultant, free-of-charge for the borrower.
The MorSEFF financing conditions (interest rates, maturity, grace period and collateral) are agreed between the Particpating Bank and the Borrower on a case-by-case basis. The incentive amount is based on the technical eligibility criteria of the project, as explained under the question " How much incentive payment can my company get?"
The advantage of LEME projects is their quick and simple transaction process resulting from automatic eligibility for financing of pre-approved equipment included in the LEME list.The entire process from application to signing of a loan and disbursement of financing can be completed within 1 to 2 weeks, for leases the process can be as quick as 24 to 48 hours. The speed of process also depends on the completeness of the information provided by the potential borrower / lessee and the duration of the Participating Bank’s internal credit assessment procedure.
 Non-LEME projects entail a more comprehensive and detailed assessment process performed by the MorSEFF Project Consultant. The process from application to signing loan/ lease agreements and disbursement of financing may take 1 to 2 months, depending on the completeness and quality of the information provided by the potential borrower / lessee and the duration of the Partner Bank’s internal credit assessment process.The transaction process of larger projects that require additional, extensive studies, such as a complex energy studies, a feasibility study or a full-scale environmental impact assessment (which are the potential borrower / lessee’s responsibility to conduct) may take more than three months.
The investment incentive is as follows:

  • 10 % Investment incentive for all other projects including all LEME-based projects.
  • In the case of loans provided to ESCOs, the clients of the ESCO (end users) will benefit from the investment incentives
  • Producers / suppliers of energy efficiency and renewable energy equipment are not eligible for an investment incentive. 

  • The borrower / lessee successfully implements the project
  • The borrower / lessee completes and submits to the MorSEFF Project Consultant the “Ready for Completion Verification Review (CVR) and Investment Incentive Payment Request (IIPR)” form, together with supporting documents, such as invoices, receipts etc
  • Upon review of the “Ready for CVR and IIPR” form and the supporting documents, the MorSEFF Project Consultant prepares the “Completion Verification Review (CVR) Check List”, which is then submitted to the “Verification Consultant (VC)
  • The VC reviews the CVR Check List and verifies the documentation submitted by the borrower / lessee and confirms whether the project has been implemented according to the application.
  • The VC may also conduct site visits to verify the project implementation.
  • The VC issues a “Completion Verification Review (CVR) Certificate” and submits it directly to EBRD
  • EBRD transfers the Investment Incentive to the Partner Bank
  • The Partner Bank pays the Investment Incentive to the borrower / lessee. 

  • The borrower successfully implements the project
  • The borrower / lessee completes and submits to the MorSEFF Project Consultant the “Ready for Completion Verification Review (CVR) and Investment Incentive Payment Request (IIPR)” form, together with supporting documents, such as invoices, receipts, commissioning certificates etc
  • Upon review of the “Ready for CVR and IIPR” form and the supporting documents, the MorSEFF Project Consultant prepares the “Completion Verification Review (CVR) Check List”, which is then submitted to the “Verification Consultant (VC), together with the Project Assessment Report prepared by the Project Consultant during project appraisal
  • The VC reviews the CVR Check List as well as the Project Assessment Report and verifies the documentation submitted by the borrower / lessee and confirms whether the project has been implemented according to the application and the original investment plan.
  • The VC performs an on-site visit to verify the project implementation.
  • Upon positive Completion Verification Review, the VC issues a “Completion Verification Review (CVR) Certificate” and submits it directly to EBRD.
  • EBRD transfers the Investment Incentive to the Partner Bank
  • The Partner Bank pays the Investment Incentive to the borrower / lessee. 

Yes, the technical assistance is free-of-charge to you. It is financed by the European Union Neighbourhood Investment Facility and by the SEMED SEFF Multi-Donor Account. The services are comprised of help to the client with the submission of loan/lease application, review of documents, assessment of eligibility, and where necessary, advise the client on changes to the project leading to improved performance, thus eligibility.
The technical assistance provided by the MorSEFF team is tailored to provide adequate and timely support to the borrowers based on the project complexity:

  • Free-of-charge technical assistance at every stage of the project cycle, from application to simplified energy audit, technical and financial assessment, project implementation monitoring and project completion verification
  • Fast track approval process for single equipment-based projects using the List of Eligible Measures and Equipment – LEME, a web-based database of pre-qualified EE & RE equipment
  • Diversified communication channels to the MorSEFF Project Consultant team to suit everybody’s possibilities – website, hotline, personal visit to the project office / branch office. 

MorSEFF finances EE investments in the Moroccan private sector leading to:

  • At least 20% energy savings for industrial and commercial projects as well as investments in non-commercial (residential) buildings (e.g, industrial projects, private residences, agriculture projects…)
  • At least 30% energy savings for investments in commercial buildings (e.g, hotels, offices, retail…),   OR
  • At least 20% CO2 emissions reductions. 
  • Note that LEME based projects are automatically eligible while in the case of non-LEME projects, the eligibility is assessed by the Project Consultant.

MorSEFF finances the installation of stand-alone small scale renewable energy technologies that meet the following criteria:

  • A simple pay-back period below 15 years at prices at the time of the loan / lease approval
  • A minimum electricity generation of 2 kWh per annum per 1 EUR of Investment Costs
  • For wind power projects, the installed capacity utilization rate must not be lower than 0.22
  • In the case of run-of-river hydropower plants, the installed capacity utilisation rate must not be lower than 0.25
  • The financial viability of all renewable energy projects, as calculated by the MorSEFF Project Consultant, shall result in a positive Net Present Value. 

In order to assess the eligibility of such projects, the formula of overall efficiency should be applied. For example, if a company wishes to replace existing production equipment with new, more efficient equipment, which will result in 15% lower energy consumption (compared to the existing situation) and at the same time will increase the production capacity by 50%, the overall efficiency will be calculated as follows:

    • 15% x 150% / 100% = 22.5%. The 22.5% is the theoretical overall energy saving of the proposed investment, hence it fulfills the project eligibility criteria of minimum 20% energy savings for projects implemented under the MorSEFF programme.

Yes, in this case a borrower can opt for several loans under LEME approach or, alternatively consider a bigger non-LEME single loan requiring an Energy Efficiency Assessment from the Project Consultant (for example, a new boiler plant) and potentially leading to better energy efficiency results.
No. The MorSEFF Project Consultant does not recommend any particular suppliers or vendors. A list of Eligible Equipment from different suppliers and installers is available on the MorSEFF website (LEME). Although the list is regularly updated, it is not exhaustive. Furthermore, the Project Consultant may add the client in the procurement of the supplier (preparation of the specification for request for offers, assessment of offers).
The supplier of the equipment selected by you can still be included in the LESI/LEME lists. The supplier can complete the form provided on the MorSEFF website to register his equipment and the engineering experts of the Project Consultant team will then evaluate its eligibility against the LEME criteria. In general, the inclusion of a new piece of equipment in the LEME list may be completed in approximately one week, depending on the availability and willingness of the equipment supplier to provide the technical data required for the eligibility assessment by the Project Consultant.
You can complete the form provided on the MorSEFF website under “Register your Equipment”. We will evaluate the eligibility of the equipment against the LEME criteria and inform you accordingly.
No, registering your equipment is free.
In case the equipment is LEME-registered, your client can apply for a MorSEFF loan / lease with a Moroccan Partner Bank using the proforma invoice. In case of a more complex project, a feasibility study or a business plan is needed to speed up the application and evaluation process.
Yes, you can apply for a “supplier” loan with a Partner Bank of the MorSEFF programme sharing the details of the planned investment. Supplier financing is for investments in production and / or supply capacity expansion (Capex or machinery upgrade) of energy efficiency and / or renewable energy equipment producers, suppliers and installers.The financing amount available from the MorSEFF programme is limited to 10 million DH.However, suppliers are not eligible to receive an investment incentive under the MorSEFF programme.

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Small Scale Financing

Fast-track loan or lease of up to 3 000 000 DH + vast choice of automatically qualified equipment on LEME database + 10% cash-back incentive after installation

 

Larger/More Complex Investment Financing

Loan up to 50 000 000 DH / Lease up to 10 000 000 DH + free technical assistance through implementation + 10% incentive post-verification

SEMED Multidonor Fund (This Fund is supported by Australia, Finland, France, Germany, Italy, the Netherlands, Norway, Sweden, Taipei China and the United Kingdom)

 

Participating Banks

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