Morocco will install over 11 GW of new power generation capacity by 2030, with the lion’s share of the newly installed technology (about 58%) likely to be green in nature, GlobalData estimates.
In 2019, renewables including hydropower formed over 34% of the country’s overall capacity mix, while thermal represented 66%.
GlobalData’s analysis for the renewable expansion in the country estimates that almost 55% of the new capacity built is likely to come from wind, hydropower and solar PV by 2030, enabling the transition toward a sustainable energy mix. This transition is likely to reduce the reliance on coal from 39% to 25%, with an improvement in the renewables share, from 34% to 46% by 2030.
“With a constant decline in the cost of generation, renewables have been gaining grid-parity with other conventional fuels,” said Somik Das, senior power analyst at GlobalData. “Morocco’s amibitious plan for implementing 52% of the renewables in the capacity mix, coupled with local governments attitude and favorable policies, have established the country as an attractive market with ample opportunities for global companies to invest and expand in the renewables sector. In June 2020, EU and EBRD launched a program for funding local businesses to invest in renewables and other green technologies as part of North Africa’s green finance initiative.”
“Advancements in renewable power is predicted to bring a turnaround from the situation a decade ago, when the country relied heavily on hydrocarbons, which formed 86% of the power produced. With conducive renewable resources and its proximity to the demand centers, Morocco’s expansion plan for renewable technologies, mainly wind and solar PV, will aid the country’s decarbonization goal. Furthermore, Morocco can harness the unexplored resources to establish itself as a sustainable power market in the region.”