Morocco has emerged as a key destination for Gulf investments in renewable energy, alongside Egypt and Jordan, according to a recent report by the London-based think tank Bourse & Bazaar Foundation.
The report highlights the country’s strategic position within the MENA solar energy landscape, emphasizing large-scale projects such as the Noor solar complex in Ouarzazate.
Titled “Gulf Investors Power Solar Projects in Morocco, Egypt, and Jordan,” the report details how Morocco has attracted substantial investment from Saudi Arabia’s ACWA Power and the UAE’s AMEA Power. These initiatives fall under the supervision of the Moroccan Agency for Sustainable Energy (MASEN).
ACWA Power has been involved in the first three phases of the Noor project, while AMEA Power currently operates three solar plants across the country: in Taroudant (36 MW), Tangier (34 MW), and El Hajeb (36 MW). Abu Dhabi’s Masdar has also partnered with Morocco’s National Office of Electricity and Drinking Water to support energy access programs.
Researcher Ashraf Abdel Rahman, author of the report, noted that Morocco’s appeal to investors is bolstered by its allocation of land for renewable projects and the provision of government-backed guarantees. These assurances help mitigate credit risk and encourage long-term investments, he wrote.
The report also highlights Morocco’s strategic ambitions, including a high-profile plan to export electricity to the United Kingdom via an undersea power cable. Such initiatives position the country as a regional energy hub.
The growth of Gulf investments is closely tied to broader national strategies in Saudi Arabia and the UAE. Both countries have laid out long-term visions — Vision 2030 and Energy Strategy 2050, respectively — that prioritize expanding foreign investment in clean energy sectors.
In contrast, the report said Egypt has faced challenges such as currency volatility, import restrictions, and difficulty in repatriating profits, which could limit its competitiveness in attracting new energy investments.
Morocco aims to generate 52% of its electricity from renewable sources by 2030. The country is on track to achieve an installed renewable capacity of 2.7 gigawatts by 2027 and 2.97 gigawatts by 2028. The report notes that easing local content requirements could enhance Morocco’s competitiveness in the regional energy market.
The report also touched on Jordan’s renewable energy sector, describing it as smaller than Morocco’s and Egypt’s but having achieved steady growth in recent years.
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