Morocco plans to invest US$40bn in energy sector

TRME Power1At the 11th Arab Energy Conference, Morocco announced that it will invest more than US$40bn in the energy sector by 2030

Speaking at the conference, Aziz Rebbah, Moroccan minister of energy, mining and sustainable development, added that of the total investment budget, US$30bnwill be dedicated to renewable energy projects.

“These investment projects represent great opportunities for the national, regional and international private sector.”

The minister also highlighted the increased demand for energy in the North African country, saying its overall consumption of primary energy amounted to 20.8mn tonnes in 2017, with 55.9 per cent from oil and 25.5 per cent from coal.

Renewable energy such as wind, hydroelectric and solar power, contributed 5.8 per cent of consumption in 2017, compared to only 2.6 per cent in 2002, he noted.

Morocco aims to produce 42 per cent of its electrical power from renewable energy by 2020 and 52 per cent by 2030.

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