Morocco is a net energy importing nation approximately 90% of its energy needs are imported as per the Moroccan Ministry of Energy.
The national strategic objective is to improve security of supply by reducing dependence on energy imports, including increasing use of renewable sources for electricity production.
In 2018, 35% of Moroccan energy came from renewables, wind energy being the biggest contributor with 10% share. Besides renewables, Morocco will also look to LNG to diversify its energy sources. The country plans to develop a $4.5bn LNG facility in Jorf Lasfar on the Atlantic coast to meet its growing power needs.
- Morocco is aiming to attract around $30 billion in investment to its energy sector by 2030
- Morocco and the International Energy Agency (IEA) signed a program of action for the period 2020-2021, with the aim of deepening bilateral cooperation in the fields of security energy, renewable energy, energy efficiency, capacity building and data and statistics.
- Moroccan Minister for Energy, Mines and Sustainable Development Aziz Rabbah has announced an investment of over $13bn in Energy Sector