Morocco needs $40 B to achieve energy goals
Morocco’s Minister of Energy Transition Leila Benali has said the country needs to invest over $40 billion to achieve its national energy goals.
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Morocco, Rabat: Morocco’s Minister of Energy Transition Leila Benali has said the country needs to invest over $40 billion to achieve its national energy goals.
“We need to invest more than $20 billion in renewable energy and energy efficiency, and another $20 billion in the interconnection between Africa and Europe,” Benali told the Saudi news website Asharq.
The minister added that renewable resources contribute over 45% to Morocco’s electricity and are on track to reach 52% ahead of Morocco’s 2030 target. The country also needs to boost battery storage projects, adding that it seeks to double its electricity generation capacity by 2030 to reach 27 GW, up from 12 GW currently available.
“This will need a total of $13 billion. Renewable energy will eventually account for 80% of Morocco’s energy consumption,” she said.
Source: Zawya