Renewable energies: Morocco could reach its target before 2030

While soaring prices and the energy crisis have forced many countries to bring out the map of coal-fired power plants, the policy and strategy adopted by the Kingdom have only pushed its ambition to grow to achieve its target set for 2030. In addition, thanks to the investments attracted, Morocco could reach this objective of 52% of electricity production capacity from renewable energies before the planned deadline.

At the end of 2021, the installed capacity in Morocco in terms of energy amounted to 4,050 MW out of a total capacity of 10,743 MW, representing a share of nearly 38% of the energy mix. It is estimated that at the end of the current year, the additional capacity should reach 87MW in wind power due to the completion of phase 1 of the park installed in the city of Taza. In 2023, Morocco will reach its target of 42% which was planned for 2020 while in 2030, it would already be at 64.3%.

Thanks to its commitment and its clear strategy, Morocco has succeeded in attracting a large number of international investors as well as nationals. In this regard, MoroccoLatestNews asked Amin Bennouna, professor, who gave us a brief overview of the types of investors and their approaches. “As it’s about investments in the field of renewable energy, there are basically two types of investors. There are what are called developers, these are people who do not necessarily have the equipment but who will sniff out the good deal somewhere to install a project there. First, they meet with a rather traditional bank, equipment manufacturers and then always take a local investor before setting up the project. This project can be a tender or other”, he specifies.

The teacher says that “the developers do the project, in general they stay there for two or three years to show that it works and that there is a proper profitability to demonstrate good faith. After this stage, the secondary investors or “passive investors” arrive who will buy the majority of the shares on condition that someone continues to take care of the project and in general, they will leave the developers 20% of the shares and will keep 80 %”.

According to Bennouna’s estimates, we will reach the objective of 52% of electricity production capacity before 2030. The reason: In 2008, we thought that in 2030, we would need 24,000 GW of electricity production capacity. Off, now it turns out that we will only need 16,000 GW and not 24,000 GW“.

He goes on to point out that the 52% of 24,000 GW is not the same as 52% of 16,000 GW. So the performance we are going to achieve has nothing to do with the performance we had planned and that is why we will succeed in achieving this objective well before 2030.“.

The expert adds that despite the fact that we were not able to reach the 42% objective in 2020, we will nevertheless be able to reach that of 2030. With the OCP projects, we will exceed 52% by far. OCP is putting on the table about 2 GW of solar power and 2.6 GW of wind power, and if we take into account what the group is going to do in Khouribga, what it is going to do in Benguerir or east of Tarfaya, the abilities target will explode“.

Indeed, the OCP aims to achieve carbon neutrality before 2040, the increase of its production capacities and 100% unconventional water in 2024 and 100% green energy in 2027 for a total investment of 130 billion dirhams over four years which will make more than 147 billion dirhams in turnover from 2025.

The group will begin its production of green energy, with the objective of reaching 5 GW which will allow, in addition to the investments of the rest of the international investors, the acceleration of the achievement of the objective before 2030.

Previous Post Next Post