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Energies: $ 14 billion investment by 2023

Morocco has committed to invest $ 14 billion between 2017 and 2023 to develop the energy sector, particularly renewable energy, said Friday in Abu Dhabi, the Minister of Energy, Mines and Sustainable Development, Aziz Rabbah.

Speaking at the 9th General Assembly of the International Renewable Energy Agency (IRENA), Rabbah stressed that “the implementation of these structuring investments has been entrusted to large Asian, European, American, Arab companies and Moroccan”.

The strong participation of the pioneering companies in the energy field in this project testifies to the attractiveness of the national market, said the minister, noting in this perspective that “the Kingdom has developed partnerships with leading countries in the field of renewable energy and actively participates in the work of international and continental organizations working in this sector”.

In addition to the development of renewable energies, the official said that Morocco considers the establishment of electrical interconnection lines with neighboring countries as a strategic choice that will undoubtedly strengthen energy security, adding that the Kingdom works with several partners for the promotion of scientific research and training in energy.

Reviewing Morocco’s significant progress in developing the national energy industry, Rabbah noted that renewable energy is a good opportunity to combat the effects of climate change and accelerate sustainable development. He recalled that King Mohammed VI has given his instructions to revise upward the ambitions initially projected in terms of renewable energies which are expected to exceed the current target of 52% of the national electricity mix by 2030.

On energy efficiency, the minister said the Kingdom has adopted a national strategic vision, including the rationalization of energy consumption, particularly in the sectors of agriculture, transportation and public lighting. In addition, Rabbah praised the projects launched by the International Renewable Energy Agency since its inception, as well as its innovative initiatives to assist member states in developing effective programs for the development of renewable energies.

The IRENA General Assembly is being held with the participation of more than 120 ministers and government representatives from 160 countries around the world.

This meeting examines ways to accelerate the pace of renewable energy promotion to achieve sustainable development and climate goals. In addition to decision-makers, this conclave is attended by high-level representatives from international institutions, private companies and civil society.

IRENA was established on January 26, 2009, in Bonn, Germany, following a conference of 75 countries that have adopted its status.

The 1st IRENA General Assembly, held in 2011, chose Abu Dhabi as the seat of this intergovernmental organization, whose mission is to promote renewable energies on a global scale.

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