The Minister of Energy Transition and Sustainable Development, Leila Benali, revealed during a speech at the House of Councillors that renewable energies now cover one-fifth of the national electricity demand. She also announced major advances in energy supply and petroleum product storage infrastructure, as part of Morocco’s efforts to strengthen its energy security.
**Oil Storage: Increased Capacity by 2030**
The Ministry of Energy Transition is actively supporting private sector projects aimed at increasing petroleum product storage capacity to 1.8 million cubic meters by 2030. This will cover an additional 41 days of national consumption. These projects, representing an investment of 5 billion dirhams, are expected to generate more than 3,600 direct jobs as well as thousands of indirect jobs.
**Progress of Renewable Energies**
Electricity production from renewable energies reached 5,300 megawatts by the end of August 2024, marking a growth of 7.3% under the current government mandate. For the first time, wind energy has surpassed hydropower in terms of production.
During the first half of its mandate, the ministry authorized private operators to develop more than 2 gigawatts of additional capacity, a record advancement in the sector.
**Cost Reduction and Increased Investments**
Reforms implemented by the ministry have significantly reduced the cost of electricity production, which no longer exceeds 0.40 dirham per kilowatt-hour, even including batteries.
Moreover, the pace of investments in renewable energies has increased fivefold, rising from 3.5 billion dirhams per year before 2021 to 15 billion dirhams per year after 2023. The amount of scheduled investments amounts to 30 billion dirhams, in addition to the financing of the electrical interconnection line between the south and the center of the country, with a capacity of 3 gigawatts.
**Heading Towards a Sustainable Energy Future**
These achievements demonstrate Morocco’s commitment to diversifying its energy mix and reducing its dependence on fossil fuels, while strengthening its infrastructure. With a strategic vision and ambitious reforms, the Kingdom continues to position itself as a regional leader in the field of renewable energies.