Morocco ranked among the top three countries “punching above their weight” in terms of developing green energy capacity, according to a report.
In a ranking from American consultancy EY that factors in policy ambition, and adjusts green energy investments to the size of the economy and GDP per capita, Morocco ranked among the top three best-performing countries in addition to Denmark and Greece, according to a report from energy transition news outlet recharge.
Morocco’s high-ranking place in the adjusted index is largely thanks to its ambitious plan to boost production capacity for solar, wind, and green hydrogen. The country currently aims to increase green energy to 52% of its energy mix by 2030.
“Its geopolitical position is another positive factor in Morocco’s journey to a low-carbon economy,” the report explains. “Not only does it have two existing interconnectors with the Spanish power system, but a third is planned, as well as a fourth with Portugal.”
The same report detailed that “Morocco is also active in supporting other African markets with their clean energy transitions, drawing on its own experience.” The North African country recently committed to increasing the share of green energy in its energy mix to 70% by 2040 and 80% by 2050.
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Morocco’s Energy Transition Minister Leila Benali insisted that these goals are attainable in light of the current technological development and dropping cost of renewable energies.
“The rapid and continuous drop in the cost of renewable energies and storage validates the orientation taken by Morocco and authorizes the adoption of very ambitious decarbonization strategies focused on the production of green electricity and hydrogen,” she said.
Morocco’s 2050 energy plan includes seven objectives. The consolidation of sustainable development’s governance and improving the management and development of natural resources are among the pillars of the strategy.
SOURCE: Morocco news