Morocco’s vulnerability to substantial impacts of climate change is a major obstacle for international investors in renewable energy, Minister Leila Benali revealed in an interview with The Telegraph.
Morocco’s drought periods, which witnessed a remarkable increase in frequency and intensity in the past two decades, are real sources of concern for foreign investors.
Because the generation of all types of energy depends largely on water availability, a shortage in this natural resource can have a huge negative influence on the energy systems and schemes.
The repeated drought periods Morocco has experienced in the last decade have squandered the nation’s water resources and remarkably impacted its ability to meet the requirement of sustainable development.
On the effects of climate risks on investors, Benali explains: “Some developers are reluctant to help us finance long-term projects because they’re not sure about how their plants – be it wind farms, solar, or even hydro with the multiple droughts that we are facing – will perform in 15 years, 20 years.”
Despite the environmental disadvantages, Morocco is still working to boost cooperation with European neighbours and attract foreign investors to accelerate the energy transition and put into practice its energy plans.
The kingdom is determined to secure its position as a leader in renewable energy within Africa and working to gain permanent partners to realise its “superpower” potential.
The country owns four gigawatts of installed renewables capacity, in the form of solar, wind and hydro schemes. It aims to triple the figure by 2030.
With a large portion of the country covered by desert, experts believe that Morocco has the potential to become a renewable energy superpower and drive promising investments.
“I am pretty confident we will reach that,” says Benali during a meeting at the Moroccan embassy in London.
Because of Covid-19 and Ukrainian War, Morocco, like many other countries, suffered immensely from the repercussions of these two crises on its economy and the purchasing power of its citizens.
However, the Energy transition minister and her colleagues are optimistic about the future of the country and hope that renewable energies will generate wealth and help battle poverty.
Working to find new sources of avenues is an emergency for Morocco, especially because of its vulnerability to the impacts of climate change.
Being aware of such challenges, Morocco works to enlarge its investment in renewable energies and give dynamism to projects and reforms related to the energy transition.
Next to the concentrated solar power complex in the Ouarzazate, Morocco works to profit from the Saharan sun through conventional solar panels.
These are expected to accelerate the pace of renewable energy production and magnify the amounts generated.
Because of their proximity to Morocco and their need for clean energy,
European countries are expected to be a major export market for Moroccan renewable energy. Electricity interconnectors and one gas pipeline are already established between Spain and Morocco.
Morocco will also collaborate with Uk to create an energy link between the two countries. The Xlinks scheme, which was proposed by former Tesco boss Dave Lewis, would generate 10.5 gigawatts of electricity from solar panels and wind turbines which cover much of western Morocco.
The link will facilitate the transportation of 3.6 gigawatts of power directly to the UK, approximately seven million homes will be powered by Moroccan renewable energy.
Benali believes that this project “will help both countries in tackling their energy security, tackling their sustainability plans and also flexibility and agility.”
Benali aspires to work with Uk on long-term energy projects, which international investors avoid because of environmental challenges.
“Today, with our friends in the UK… I want to start thinking to see how we can price climate risk to accelerate the execution, the development and execution of these renewable projects because that’s what we need’’.
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