Morocco plans to invest nearly 10 billion Moroccan dirhams ($1 billion) annually in the coming years to increase the proportion of renewable energy sources in its energy mix and reduce power imports.
In 2023, Morocco generated almost 4 gigawatts (GW) from renewable energy sources and aims to add 800-1,000 megawatts (MW) per year in the following years to achieve its targeted share, according to local media quoting a government report.
The report says that Morocco aims to increase the share of renewable energy to 52 percent by 2030 and nearly 80 percent by 2050.
These investments are expected to significantly decrease Morocco’s energy import bill, which currently stands at MAD150 billion ($15 billion) annually, as per the report.