Morocco to invest $400 million in the energy sector

Morocco to invest $400 million in the energy sector

Editorial Staff
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This was announced by the Moroccan Minister of Energy, Aziz Rabbah, specifying that most of the planned projects will be aimed at developing renewable energy sources, a field in which Rabat has long since launched a consolidation strategy

Morocco has committed to investing 400 million dollars by 2030 to develop its energy sector. The Moroccan Minister of Energy, Aziz Rabbah, said this in Manama, the capital city of Bahrain. "The Kingdom has succeeded, through an ambitious strategy, to turn challenges into genuine investment opportunities, through its commitment to projects aimed at developing the energy sector by 2030, 75% of which are devoted to renewable energies," Rabbah said in a speech at the opening of the first Energy Investment Forum (Step 2017). The Minister highlighted the fruitful results of Morocco’s energy transition, noting that the share of wind and solar power in electricity production, which was only two per cent at the beginning of 2009, reached 13% in 2016. This transition has reduced the energy dependency rate from 98% in 2008 to 93.3% in 2016, Rabbah added.