Spain and Morocco have signed a memorandum of understanding (MoU) to build a third power interconnector. The proposed 400kV line, with an expected technical capacity of 700MW, will export renewable energy into the European grid, mainly derived from Morocco’s solar power development plan, which in turn will reduce the marginal price of electricity in the Spanish market, according to a statement on 14 February by the Spanish grid operator Red Eléctrica de España (REE).