In 2023, Morocco established itself as one of the three main contributors to the increase in investments in renewable energy in Africa, according to a report by BloombergNEF. The Kingdom, alongside South Africa and Egypt, attracted 57% of the $15 billion invested in renewable energy projects on the continent, marking a record year for Africa, representing 2.3% of global investments.
This momentum was driven by large-scale wind, solar, and geothermal projects, enhancing Morocco’s ability to play a major role in Africa’s energy transition. Between 2014 and 2023, the Kingdom auctioned off 2 GW of renewable capacity, contributing to the strong expansion of solar and wind projects in the region.
The report also highlights the dominance of solar energy on the continent, with 5.4 GW added in 2023, a dramatic increase from 1.4 GW in 2018. North Africa, particularly Morocco, Egypt, and South Africa, concentrated more than two-thirds of the installed solar and wind capacity. Morocco has thus strengthened its leadership, representing a significant share of new green energy installations in Africa, while continuing to invest in renewable solutions to achieve its energy goals.
With Le360