Morocco could become a global green energy powerhouse

The Moscow-based “Fuels and Energy Technology Development Institute” has shed light on the green energy sector in Morocco and the assets that would allow it to become a “world powerhouse” in this field.

“Europe is making great strides towards transitioning to renewable energies to free itself from its dependence on fossil energy sources. For Morocco, this is a good opportunity to gain a foothold in one of the most coveted markets in the world,” writes the Institute in an analysis titled “Morocco will Become a global green energy power.”

In the analysis, published on its official portal, the Institute interviewed Ghalia Mokhtari, energy policy advisor at the Moroccan Institute of Strategic Intelligence, about the prospects for developing Morocco’s green energy sector.

According to the expert, Morocco is well-positioned to become a significant player in renewable energy due to its geographical location and great potential in clean energy production.

“With these factors in mind, the National Office of Electricity (ONE) announced, 19 years ago, a development plan of 3.4 billion dollars focused on renewable energy,” said Ms. Mokhtari, noting that the Kingdom took a new step in the development of clean energy in 2008, through a comprehensive reorganization of the national energy production system, with solar energy playing a significant role alongside wind power and green hydrogen production.

The expert also noted that Morocco aims to achieve energy sovereignty by reducing by 90% the share of energy imported from abroad and increasing by 80% the percentage of locally produced energy by 2050.

“These plans should make Morocco a leader in clean energy production in Africa, as well as globally, as foreign investors show great interest in the country’s production capacity,” she said, noting that Morocco’s new energy plan should be primarily based on clean energy.

According to the expert, “the decarbonization of the industry will require significant investments, amounting to nearly $46.3 billion” to finance storage technologies and renewable energy transmission infrastructure.

The various projects undertaken and commitments made will contribute to turning the country into a leading export power in the long term, the Institute concludes.

The Fuels and Energy Technology Development Institute’s mission is to “help energy specialists to create a realistic picture of the world energy and to inform about the Russian and global energy sector.”