Leila Benali, Morocco’s Minister of Energy Transition, announced on Monday before Parliament that Morocco plans to quadruple its investments in renewable energies, reaching $1.5 billion per year between 2024 and 2027.
### Acceleration of Investments
The minister specified that the pace of annual investments has been significantly accelerated, rising from 4 billion dirhams ($400 million) to 15 billion dirhams ($1.5 billion) per year for the period 2024-2027. This increase aims to strengthen the country’s capacity to produce clean energy, with already 4,600 megawatts produced to date.
### Licenses and Projects
Between 2021 and mid-2024, the ministry has granted licenses to produce an additional 200 megawatts of clean energy, the largest capacity of licenses granted in recent years. These efforts are essential to meet Morocco’s growing energy needs, which currently imports 90% of its energy.
### Geopolitical and Economic Context
The international context, marked by the Russo-Ukrainian war and rising energy prices, has intensified the need for Morocco to secure its energy supplies. In response, the country is striving to increase investments in renewable energies and establish partnerships in green hydrogen, in order to reduce its dependence on external sources.
### Goals and Vision
Morocco is firmly committed to a sustainable energy transition, with strategic investments and initiatives aimed at promoting green energy. This ambitious vision reflects the country’s desire to become a regional leader in sustainable development and renewable energy.
With this momentum, Morocco is strengthening its position on the global energy stage while ensuring a safer and more sustainable energy future for its citizens.