Morocco strengthens its position among the most attractive African markets for investors in the energy transition. According to the “Africa’s Power and Energy Transition Investment Report 2025” published by the specialized platform Electron Intelligence, the Kingdom ranks fourth on the continent in terms of capital attracted over the past year.
Out of a total estimated investment volume of $13.84 billion in Africa in 2025, Morocco attracted approximately $1.38 billion, nearly 10% of the flows recorded on the continent. It follows South Africa, which holds the top spot with $2.16 billion, followed by Egypt ($1.95 billion) and Nigeria ($1.78 billion).
This performance is aligned with the national energy strategy pursued for over a decade. The report particularly highlights the structuring role of the Noor solar complex, often cited as one of the continent’s most emblematic projects. More broadly, the authors emphasize Morocco’s approach based on the simultaneous development of large-scale solar and wind projects, as well as the gradual integration of renewable energies into the national energy mix.
At the African level, 306 transactions were recorded in 2025, involving 142 investors across 43 countries. In terms of regional distribution, West Africa leads with $3.91 billion, followed by North Africa ($3.75 billion), Southern Africa ($3.13 billion), East Africa ($797.7 million), and Central Africa ($325.5 million).
Clean energy projects overwhelmingly dominate financial flows, accounting for 98.3% of the total investment value, or $13.61 billion. The renewable electricity generation segment alone captures $8.14 billion. It is followed by sector reform and public service enhancement programs ($2.40 billion), transmission and distribution networks ($1.55 billion), as well as projects related to storage and energy flexibility ($666 million).
In terms of stakeholders, the African Development Bank (AfDB) ranks first with $1.77 billion committed, ahead of the World Bank ($1.04 billion). South Africa’s Standard Bank and the European Union round out the list with $922.1 million and $794.6 million, respectively. The top ten investors account for over 53% of the amounts committed, totaling $7.42 billion.
The report also highlights the predominance of debt financing, which totals $9.05 billion. Equity contributions reach $2.48 billion, followed by grants ($1.17 billion), guarantees ($656.5 million), and hybrid financing combining development resources and philanthropic capital ($456.9 million). The year 2025 also recorded 15 mergers and acquisitions in the sector, with a cumulative volume of $1.4 billion.
In this rapidly changing landscape, Morocco stands out as one of the key centers for energy transition in Africa, benefiting from a stable strategic framework and increased visibility among international investors.