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Morocco unveils $12 billion energy plan at India-Africa business conclave
At the 20th India-Africa Business Conclave in New Delhi, Morocco presented its national energy strategy, highlighting a $12 billion investment plan through 2030. The initiative aims to increase renewable energy’s share to over 52% of the national electricity mix and develop a competitive green hydrogen sector.
Mohamed Ouhmed, Secretary-General of the Department of Energy Transition, stressed Morocco’s proactive approach to climate change, launched in 2009, with clear programs and objectives focused on renewable energy, energy efficiency, and regional cooperation.
Currently, renewable energy capacity in Morocco reaches 5.5 gigawatts, representing 45.5% of total installed capacity. The upcoming investment will add 15,672 MW of new electricity capacity, of which 12,445 MW will come from renewable sources, requiring $10 billion. An additional $3 billion will support electricity transmission networks, while battery storage (1,500 MW) and new natural gas plants (3,200 MW) will enhance system flexibility.
Morocco also showcased its green hydrogen development offer, attracting interest from about forty national and international companies, with seven projects already pre-selected. Reforms to improve the legal and regulatory framework, including the liberalized renewable electricity market, aim to enhance the sector’s attractiveness to private investors.
Ouhmed concluded by affirming Morocco’s commitment to a just and sustainable energy transition, calling for the engagement of all stakeholders to build a responsible and prosperous energy future.