Masen has established a balanced governance structure based around a Board that deploys and coordinates Masen’s activities and a supervisory board where the main ministries and key stakeholders of the sector are represented.
*Masen’s governance and organisation will be adjusted taking into account the latest legislative amendments.
Mr Mustapha Bakkoury, President of Masen, has been managing the implementation of the Masen’s projects and their development since December 2009. Through the development of the Noor Solar Plan, Masen is now a reference on the regional and international scene of renewable energies.
Before joining Masen, Mr. Bakkoury, has led one of the major institutions of Morocco, Caisse de depot et de Gestion, that he positioned as one of the main financial institutions in the Kingdom. Previously, he occupied senior positions in the banking sector, within the BMCI group. He was also in charge of the development and financing of the activities of the National Urban Development Company (SONADAC).
Mr. Bakkoury is a graduate from the prestigious engineering French school “Ecole Nationale des Ponts et Chaussées of Paris”. He also holds a degree in Banking and Finance in one of the leading French universities.
Combining successful experiences in both public and private areas, Mr. Bakkoury has also been involved in politics. He was elected General Secretary of the Authenticity and Modernity Party (PAM) in 2012 and is currently President of the most important region of Morocco, Casablanca-Settat.
Obaid Amrane has been a member of Masen’s board of directors since the company was established in 2010. Drawing on his prior experience in the economic and financial sectors, as well as his engineering expertise, he oversees all the processes and operations Masen develops.
After qualifying in two disciplines – engineering, at Hassan II Institute of Agronomy and Veterinary Medicine in Rabat, and finance, first at the General Inspectorate of Finances and then at the Association of Investment Management & Research – Obaid held various positions in the Moroccan Ministry of Economy and Finance. He was an inspector of public finance, head of the debt restructuring service at the Treasury Division, and then head of credit within the same division. His responsibilities included representing the State on many boards of directors and supervisory boards of both public institutions and private companies.
In search of new challenges, Obaid then pursued a career in the private sector. He became managing director of the Moroccan subsidiary of the new Banque Populaire Caisse d’Epargne Group, before joining Masen from the outset.
Obaid is married with two children.
To maximize its impact, Masen converted companies into subsidiaries and began a stake acquisition process. In addition, Masen has fostered the creation of an initially Solar Cluster that was soon expanded to include all renewable energy sources.
Created in 2012 and owned by Masen, Masen Capital’s purpose is to optimize the cost of projects designed to harness renewable energy sources, by acquiring stakes in the project-companies. Masen’s innovative funding approach, combined with a strong institutional framework, provides the legal and financial guarantees required to manage these major projects.
This subsidiary enables the group to:
Masen Services, created in 2014 and owned by Masen, is responsible for the management, operation and maintenance of infrastructure required to build all energy complexes.
This involves infrastructure for:
Masen Services ensures that it operates in compliance with HSSE standards (health, safety, security and environment).
Masen owns 50 per cent of the capital of Alsolen, a solar thermal technology specialist. This moroccan company was created to combine the entities of the Alcen Group, which has been breaking new ground in the solar industry for more than five years. Alsolen develops and markets solar thermal plants with Fresnel reflectors, fitted with innovative, integrated heat storage systems.
The company provides:
Alsolen is developing two types of plant:
Alsolen has a global ambition, starting with Africa.
Masen is a founding member of Solar Cluster, which today is one of the company’s major strategic partners.
The primary objective of this networking platform is to develop a competitive renewable energy industry in Morocco.
To this end, Solar Cluster’s key missions are:
« [...] our objective is to help strengthen skills and develop industrial expertise in the fields of solar power and green technology.
By coordinating professional organizations, manufacturers, researchers and academics, we combine multiple resources and skills, encourage collaboration and cooperation, and promote the development of synergies between public and private stakeholders.