Home / Finance & Economy / Renewable energy: The IEA recommendations for Morocco

Renewable energy: The IEA recommendations for Morocco

Morocco must encourage private investment in green energy “by reforming the gas and electricity markets and making operational the planned Regulatory Authority (National Energy Regulatory Agency)”. This is one of the recommendations of the International Energy Agency (IEA) in its “Second In-Depth Review of Morocco’s Energy Strategy”.

The Agency has called on the Kingdom to make energy efficiency a “national priority”, in particular by applying existing legislation, by developing policies and standards for cost-effective energy efficiency, and by acting swiftly to promote energy efficiency to adopt and implement a national strategy for energy efficiency by 2030. Note that Morocco plans to invest 30 billion dollars by 2030 in renewable energy.

The IEA also recommends that Morocco improve energy security “to better manage the risks resulting from import dependency, including the revision of oil storage policies and the securing of future imports of natural gas in addition to strengthening the exploitation of the energy system”.

In addition, Morocco will have to accelerate the development of renewable technologies and innovations “by going beyond the energy sector, in order to encourage the adoption of sustainable cooling and heating systems, transport and management of water energy”.

Check Also

Fitch confirms its “BB+” rating for Morocco with stable outlook

For Fitch ratings, the deterioration of Morocco’s public and external finances justifies maintaining the “BB+” …

Leave a Reply