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Morocco Seeks to Invest Up to $2 Billion Annually in Renewable Energies

Moroccan Minister of Energy Transition and Sustainable Development Leila Benali underlined the need to triple annual investment in renewable energies to prepare for a future economy based on green hydrogen.
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The minister highlighted her country’s intention to invest in partnership with the private sector, with a budget ranging between one and two billion dollars annually, on a consistent basis, in order to build a stronger social and economic model and accelerate the energy transition.
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Benali’s statements came during a plenary session entitled, β€œGreen Hydrogen and the Road to COP28,” which was organized on Tuesday in Marrakesh within the framework of the third edition of the World Power-to-X Summit, which brings together renewable energy players to discuss the production of green hydrogen and its applications.
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The Moroccan minister said that green hydrogen could constitute an effective solution to decarbonize the energy sector, especially in light of high energy consumption, stressing the need to β€œfollow a practical approach to achieve our goals, including meeting 52 percent of our energy needs from renewable energy sources by 2030.”
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Benali noted that Morocco has gained a great experience in renewable energies and possesses huge qualifications in the field. She pointed to the exceptional solar potential in several regions of the country, as well as political and legal stability, thanks to a favorable environment for investors and advanced partnerships with the European Union.
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32 more agrees trigger contact with the recipient

  • Kevin

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    43 w

    This is the way to go..so proud of Morocco

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    • George Kariuki

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      This initiative has the potential to serve as a model for other nations seeking to transition to cleaner and more sustainable energy systems.

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      • johnte ndeto

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        43 w

        This is impressive of Morocco as it'll have a positive impact on climate

        3
        • Rashid Kamau

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          43 w

          This is the way,the advantages of renewable energy have been known for a very long time.

          3
          • Edwin wangombe

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            43 w

            This is amazing... such commitments will make a huge difference in reducing emission and the effects of climate change

            8
            • dickson mutai

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              43 w

              Collaborating with the private sector shows a commitment to leveraging expertise and resources to make this transition a success. A great effort to strengthen both the economy and the environment

              10
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