Morocco, eighth largest recipient of investments in renewable energy- report

Morocco was ranked the eighth largest recipient of financial flows in renewable energy at 6.2 billion dollars between 2010 and 2021, a new renewable energy agency report said.

Most of these financial flows went to solar, followed by wind, said the report, to which the international energy agency also contributed along with the World Bank.

Morocco was among the 23 countries globally that concentrated 80% of these flows, it said.

India was the top recipient of international flows for the past two years, followed by Pakistan, Brazil, and Mexico.

Morocco is planning to boost its renewable energy capacity to 11GW by adding 6.5GW over the next four years, energy minister Leila Benali said.

The country has a total capacity of 11GW and plans to almost double that to 20GW as it also invests in gas and green hydrogen.

Currently, renewable energy represents 40% of the energy mix, with plans to bolster that share to 52% before 2030.

Besides renewables, Morocco aims to increase the share of gas in its energy transition by investing in LNG terminals, ports and pipelines.