Morocco is drawing more renewable energy projects internationally, and evolving into a global hub for renewable energy investments, according to a research paper by the Oil Price journal, which HespressAR reported on.
Morocco has been advancing the green economy over the past 10 years, gaining notable worldwide attention and encouraging investment from businesses in the field.
Morocco has the potential to become a global leader in renewable energy, due to its ideal position for wind and solar farms and its current export of solar energy to Europe and West Africa, indicated the paper.
Solar energy accounted for 4.4% of Morocco’s energy sources in 2021, and wind energy made up 2.4%, according to the report.
Furthermore, Morocco is currently establishing significant renewable energy projects, opening it up to more markets abroad seeking clean energy and generating employment offers for the unemployed population.
The analytical paper stated that up to 28,000 job offers would be created annually by producing wind and solar energy for sale to Europe, assisting Morocco in becoming a center for investments in the export of green industrial products.
The paper noted that Morocco struggles with its reliance on fossil fuels and that there is still room for improvement in the country’s green energy sector.
The study also highlighted how Morocco is facing economic and environmental issues, including the significant climate change that the region is experiencing and the rising electricty usage in Morocco and North Africa as a whole.
North Africa’s electricity demand is expected to rise by about 35% by 2030, according to the International Energy Agency cited in the article.
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