CNMC-FIAP Agreement 2026: energy opportunities in Morocco

Key data

Spanish energy companies with interest in Morocco have a new point of reference: the agreement between the CNMC and FIAP, published in the BOE on April 21, 2026, formalizes Spanish collaboration to strengthen the regulatory capacity of ANRE, Morocco's energy regulator. The project is financed with NDICI funds from the European Union under the reference MA-22-NDICI-EY-01-24.

This type of regulatory technical assistance project usually precedes or accompanies market opening. A stronger Moroccan regulator, aligned with the European model, reduces uncertainty for investors and operators in the energy sector that want to enter or consolidate in that market.

What does this regulation establish?

The agreement establishes the legal framework for collaboration between FIAP and CNMC to execute the activities of the TW Energy Morocco project. Each entity contributes a differentiated role:

Financing comes from NDICI funds (EU Neighborhood, Development and International Cooperation Instrument), designed precisely to support institutional modernization in countries neighboring the European Union.

The stated objective of the project is to support ANRE through Spanish technical assistance, in order to internationally project the Spanish energy regulatory model and strengthen the capacity of the Moroccan regulator to manage energy markets with European criteria.

Economic and operational impact

The direct impact of this agreement falls on the two signatory entities, which assume technical execution and management commitments. However, the most relevant business implications are indirect and affect the private energy sector:

• Regulatory alignment: A Moroccan regulator trained with the Spanish model reduces the regulatory gap between both markets, facilitating the entry of Spanish operators.
• Market signal: The involvement of the CNMC—Spain's leading regulator of competition and markets—reinforces the institutional credibility of the project and its potential impact on the Moroccan market.
• European financing: Being financed with EU NDICI funds, the project has European institutional and budgetary backing, ensuring continuity and seriousness in its execution.
• International projection of the Spanish model: The export of the Spanish energy regulatory model to Morocco can generate synergies for Spanish companies in the sector that already operate or want to operate in that country.

Morocco is an expanding energy market, with ambitious energy transition and renewable objectives. The presence of the Spanish regulatory model as a reference can be a differentiating factor for Spanish companies against competitors from other countries.

Who does it affect?

• CNMC: Assumes commitments for technical assistance and transfer of regulatory knowledge within the framework of the project.
• FIAP: Manages project execution and channeling of NDICI funds.
• ANRE (Morocco): Beneficiary entity of Spanish technical assistance.
• Spanish energy companies with interest in Morocco: Can indirectly benefit from a more predictable Moroccan regulatory environment aligned with European standards.
• Consulting and advisory firms specialized in energy internationalization: The project can generate demand for support services for companies that want to take advantage of the new regulatory context in Morocco.
• Investors in renewables with exposure to North Africa: A stronger regulatory framework in Morocco reduces perceived regulatory risk in investment projects.

Practical example

A Spanish renewable energy company that has been evaluating entry into the Moroccan market typically faces regulatory uncertainty as one of its main obstacles. With the TW Energy Morocco project underway, ANRE—the local regulator—is receiving training and technical assistance based on the Spanish CNMC model.

This means that, progressively, authorization procedures, network access criteria, and remuneration frameworks in Morocco will tend to resemble those that this company already knows in Spain. The practical result: shorter regulatory learning curve, greater predictability in processing timelines, and an institutional interlocutor (ANRE) with greater technical capacity to manage foreign investment projects.

For a company developing its internationalization plan for 2026-2027, this agreement is a clear signal that Morocco's regulatory environment is undergoing modernization with European and Spanish backing.

What should companies do now?

1. Evaluate exposure to the Moroccan market: If your company operates or plans to operate in the energy sector in Morocco, analyze how strengthening ANRE can affect your entry and authorization procedures.
2. Contact FIAP or CNMC: Both entities are relevant contact points for companies that want to better understand the Moroccan regulatory context or participate in activities linked to the project.
3. Monitor the evolution of the TW Energy Morocco project: The project (reference MA-22-NDICI-EY-01-24) will generate technical documentation, reports, and possibly calls for participation. Following its evolution can anticipate regulatory changes in Morocco.
4. Review your energy internationalization strategy: If North Africa is on your radar, this project is a signal that Morocco's institutional environment is improving. It may be time to accelerate feasibility analysis.
5. Consult with advisors specialized in international energy regulation: The alignment of Morocco's regulatory model with Spain's can have concrete implications for contracts, licenses, and investment structures that should be analyzed with experts.