To strengthen Morocco’s energy sovereignty, the Ministry of Energy Transition and Sustainable Development is intensifying its support for private sector projects aimed at expanding petroleum storage capacity by 1.8 million cubic meters by 2030. This increase represents the equivalent of an additional 41 days of national consumption, a critical step towards ensuring energy security.
The total investment for these projects is estimated at 5 billion dirhams, a sum that will not only bolster the Kingdom’s energy reserves but also generate over 3,600 direct jobs and thousands of indirect employment opportunities, driving economic growth and stability.
On the renewable energy front, Morocco has made significant progress. By the end of August, the Kingdom’s electricity production capacity from renewable sources reached 5,300 megawatts, marking a 7.3% increase during the current governmental term. Notably, wind energy production has, for the first time, surpassed hydroelectric power, highlighting the country’s shift towards a diversified and sustainable energy mix.
Renewable energy projects now account for one-fifth of Morocco’s electricity demand. In a historic move, the Ministry has granted private sector operators permits for projects totaling more than 2 gigawatts in capacity during just half of the current term, the largest volume of approvals ever issued by the Ministry.
At the same time, reforms have been undertaken to reduce the cost of electricity production. Thanks to competitive investments, the production cost for renewable energy, including storage batteries, has dropped to just 0.40 dirham per kilowatt-hour, a milestone that further enhances Morocco’s energy affordability and competitiveness.
The pace of investments in renewable energy has also accelerated dramatically, increasing fivefold from 3.5 billion dirhams annually before 2021 to 15 billion dirhams per year since 2023. The value of planned investments now totals 30 billion dirhams, with additional funding allocated for a new 3-gigawatt interconnection line linking the southern and central regions of the Kingdom.
By embracing a forward-looking strategy that prioritizes energy storage, renewable energy expansion, and infrastructure development, Morocco is setting a benchmark for energy independence and sustainability in the region.
