ONEE: Indebted Moroccan utility to increase Masen stake

In a further move to reorganise the Moroccan electricity sector, state energy investor Société d’Investissements Energetiques (SIE) has received board approval to sell its 25% stake in the Moroccan Agency for Sustainable Energy (Masen). SIE’s stake will be used to enlarge the stake in Masen held by Office National de l’Electricité et de l’Eau Potable (ONEE); officials told the Casablanca daily L’Economiste this would enhance synergies between the two companies. Many analysts believe Masen has gained in influence recently at ONEE’s expense.