Morocco is developing a project to increase oil stocks by 1.8 million cubic meters by 2030. By August 2024, Morocco’s renewable electricity generation capacity had reached 5,300 megawatts, an increase of 7.3% under the current government.
Moroccan Minister of Energy Transition and Sustainable Development, Leila Benali, unveiled an ambitious plan to strengthen the country’s energy resilience and increase its renewable energy capacity.
During her speech in the House of Advisors on Tuesday, she announced a plan to increase oil stocks by 1.8 million cubic meters by 2030, adding the equivalent of an additional 41 days to national consumption reserves. from Morocco.
She also mentioned a 5 billion dirhams ($488 million) initiative to support private sector projects to strengthen oil storage capacity. This expansion is expected to generate more than 3,600 direct jobs and thousands of indirect jobs.
Alongside storage projects, Benali highlighted significant advances in the field of renewable energy. As of August 2024, Morocco’s renewable electricity capacity had reached 5,300 megawatts, marking a 7.3% increase under the current government. It is notable that, for the first time, wind energy production has exceeded that of hydropower, indicating a major change in the country’s energy mix.
“Renewable energies now cover a fifth of Morocco’s electricity demand Benali said, adding that her ministry had approved private sector projects totaling more than 2 gigawatts of renewable capacity in two years, which is a record. She also highlighted the impact of recent reforms on reducing production costs, noting that renewable energy, including advanced storage with batteries, now costs less than 0.40 MAD (0.04 USD) per kilowatt hour. This success places the Moroccan clean energy sector in a competitive position on a global scale.
Investments in renewable energy have seen spectacular growth, from 3.5 billion dirhams ($341 million) per year before 2021 to 15 billion dirhams ($1.46 billion) per year after 2023. future, Benali announced that 30 billion dirhams (2.93 billion dollars) have been allocated to future projects, including in particular an electrical interconnection line 3 gigawatts connecting the south to the center of Morocco.
In September, Morocco introduced three decrees to accelerate its transition to renewable energy.
The first decree provides for the use of smart meters to improve network efficiency and integrate more renewable energy. The second establishes “ certificates of origin » for renewable electricity, promoting green energy and aligning with global standards. The third supports energy service companies in implementing energy saving measures and improving equipment performance.
These advances demonstrate Morocco’s commitment to energy independence and sustainability, thus consolidating its status as a leader in renewable energy in Africa and beyond.
MK/SF/te/APA
