Morocco has announced plans to invest $3 billion [1] over the next five years in various power projects aimed at expanding its electricity network and increasing the share of renewable energy. The announcement was made by Tarik Hammane, Director General of the National Office of Electricity and Drinking Water, during a local energy seminar in Casablanca.
The investment plan includes projects related to conventional electricity, renewable energy, and hydrogen projects. This initiative is part of Morocco’s broader strategy to achieve a 52% share of renewable energy in its total energy mix by 2030. Currently, renewables account for around 44.3% of the country’s energy mix.
Hammane highlighted that the projects will not only bolster the domestic economy but also contribute to reducing greenhouse gas emissions. The renewable energy production in Morocco has reached 5,400 megawatts (MW), including 2,400 MW from wind, 2,100 MW from water, and 900 MW from solar sources.
The investment is expected to support the development of the country’s electricity network and enhance energy stability. Morocco has been making significant strides in renewable energy, with investments in renewable projects rising by nearly 42% over the past four years.
This ambitious plan aligns with Morocco’s commitment to sustainable development and its goal to reduce dependence on fossil fuels. The country’s efforts in renewable energy have already seen a substantial increase in the share of renewables from 37% in 2021 to over 44% in 2024.
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[1] Morocco to invest $3bn in power projects over five years