What is a Super ESCO ?
The acronym ESCO stands for "Energy Service Company". It is a professional services company that offers a wide range of energy solutions and services to enable its partners and clients in the public and private sectors to reduce their energy consumption.
The term "SUPER" suggests that the company is a public entity. In fact, it is under the supervision of the Ministry of Energy, Mines and the Environment that SIE plays the role of intermediary and facilitator for the Public Administration and sets up intersectoral partnerships between the various stakeholders. As state-owned companies, SUPER ESCOs work mainly, but not exclusively, with public sector clients to support them in the design, implementation and monitoring of their energy efficiency projects.
The functions of a Super ESCO are multiple and can cover all stages of the energy efficiency value chain, from energy audit to project design, including contracting (EPC), delivery of energy efficiency services (including through private ESCOs), installation, and M&V of energy savings, from operation to maintenance.
Also known as Super ESCO or public ESCO, the Société d’Ingénierie Énergétique (SIE) is a state-owned energy services company, a public entity whose mission is to sustainably reduce the energy consumption of public and private organizations, while improving their energy performance.
SIE works exclusively for the implementation of energy efficiency projects targeting key sectors, such as :
The Société d’Ingénierie Énergétique is a Moroccan institutional player dedicated to energy services.
Operating under the supervision of the Ministry of Energy, Mines and the Environment, the Super ESCO holds a capital of MAD 125 million, divided between the Ministry of the Economy and Finance and the Hassan II Fund, respectively for up to 71% and 29 %.
SIE plays the role of intermediary and facilitator for the public administration, local communities, public enterprises and institutions, as well as private sector companies, and develops intersectoral partnerships among the various stakeholders.
Its main actions are mainly geared towards upgrading the energy level of public buildings and street lighting in the cities of the Kingdom, which places SIE at the heart of the State's duty to set the example in terms of energy efficiency. In a second phase, SIE will also target projects in the industrial and sustainable mobility sectors, while paying special attention to supporting SMEs and ESCOs.
Owing to its new responsibilities, SIE offers a wide range of energy solutions and services to enable companies in the public and private sectors to reduce their energy consumption.
Founded in 2010 under the name of Société d’Investissements Énergétiques, SIE was initially the State's financial arm for the sector of renewable energies and energy efficiency. Along this line, its mission was to finance and co-develop national programs and clean energy projects.
The new guidelines of His Majesty King Mohammed VI related to the National Energy Strategy were given consideration by SIE's Board of Directors, which took note of the sector's new imperatives, and decided to focus the Company's line of work on energy services.
Moving from the role of financial arm of the State, SIE has thus become the Société d’Ingénierie Énergétique, a Super ESCO dedicated solely to delivering energy efficiency programs and projects.
Henceforth, the new SIE is adjusting its missions to its novel mandate, while contributing to the new strategic energy guidelines aimed at reducing national energy consumption by nearly 20% by the year 2030.
The governance section will be updated in accordance with the new constitution of the Government of Morocco after the next SIE’S Board of Directors meeting.
The Board of Directors of SIE meets at least twice a year to approve the summary statements of the previous financial year, and to review and decide over the budget and the provisional program for the following financial year. The BOD also decides on setting up any committee, for which it specifies the composition and the modes of operation, and to which it may delegate part of its powers and prerogatives (eg. Audit Committee, Working Group, etc.).