Morocco Targets $9b Solar Spend

Morocco Targets $9b Solar SpendMorocco Targets $9b Solar Spend

The Moroccan Agency for Solar Energy (Masen) is targeting $9 billion in investment by 2020, according to a recent report by the World Future Council. By 2030, Morocco aims to generate 52% of its electricity from renewables, including 2 gigawatts each from solar, wind and hydroelectric power, Morocco announced at the recent COP 21 United Nations Climate Change Conference, Trade Arabia reported. Currently, Morocco is the Middle East’s largest energy importer, at more than 97% of its total, according to the World Bank. Morocco’s recently-announced goal of generating more than half its electricity from renewables by 2030 presents strong business opportunities, energy experts announced at the World Future Energy Summit, opening on Monday in Abu Dhabi, UAE. Morocco’s signature solar project is Noor, which is set to be the world’s largest concentrated solar power plant in the world, with a capacity of more than 500 MW and set to power 1.1 million homes by 2018, according to the World Bank.