Minister Highlights Morocco’s Energy Transition Efforts and Investments in Renewable and Fossil Fuels Sectors

During a session of the House of Advisors on December 17, 2024, the Minister responsible for the energy sector provided a detailed presentation on the government’s efforts to achieve an energy transition in Morocco. She highlighted the significant transformations achieved thus far, emphasizing the government’s commitment to accelerating the pace of work and simplifying processes, including the fast-tracking of licensing procedures and encouraging investments in the energy sector.

The minister explained that the government has worked to create a favorable regulatory and institutional environment and developed an integrated plan for the first time to build the necessary infrastructure. This aligns with the royal directives aimed at ensuring effective management of the energy transition and addressing global challenges in the energy sector.

She also noted that 42 investment decisions had been made in the renewable energy and hydrocarbons sectors, with requests related to these investments being processed in just 30 days. These projects have contributed to strengthening Morocco’s ability to meet its energy needs, with the share of electricity produced from renewable sources rising from 37% at the end of 2021 to over 44% in 2024.

Regarding renewable energy, the minister shared that the government has made substantial investments in this sector, with approximately 17 billion dirhams invested since late 2021. This has created more than 2,000 direct job opportunities, alongside thousands of indirect jobs. These investments have also contributed to a significant energy transition, increasing production capacity from renewable sources.

In the hydrocarbons sector, the minister confirmed the approval of more than 590 petroleum service stations, with an investment totaling 1.7 billion dirhams, resulting in the creation of around 2,950 direct jobs. She also mentioned the ongoing efforts to support the private sector in undertaking additional projects for petroleum storage, with an expected investment of 5 billion dirhams that will create over 3,600 job opportunities by 2030.

In conclusion, the minister reaffirmed that the government is committed to further boosting investments in this strategic sector to ensure energy sustainability, meet the kingdom’s energy needs with renewable and fossil fuels, and simultaneously create job opportunities and support economic growth.

source : fesnews media

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