Morocco Plans to Allocate 3 Billion for Energy Projects over the Next Five Years

Morocco plans to allocate over MAD27 billion ($2.7 billion) in power projects over the next five years to expand its electricity network and increase the share of renewable energy, according to Tarik Hammane, director general of the National Office of Electricity and Drinking Water.  The development plan, starting this year, covers conventional electricity, renewable sources, and hydrogen projects.  Morocco has made significant progress in increasing reliance on renewable energy, which now accounts for approximately 44.3% of the country’s total energy mix.  Renewable energy production has reached 5,400 megawatts (MW), including 2,400 MW from wind, 2,100 MW from water, and 900 MW from solar sources.  The country aims to boost the renewable sector’s share of the energy mix to 52% by 2030.  Investments in renewable energy projects have risen by nearly 42% over the past four years, increasing from MAD17.5 billion to MAD25.3 billion between 2021 and 2024.