Morocco, Africa’s most attractive country for renewable energy-Report

Morocco topped African and MENA region countries in the Renewable Energy Country Attractiveness Index established by British consultancy Ernest and Young.

The North African kingdom came 13th internationally in a list of 40 countries that have invested heavily in developing clean energy sources.

At the African level, Morocco was followed by Egypt (14th) and Kenya (37th). In the MENA region Jordan came 31st.

Globally, China, the US and France took the first three positions respectively followed by India, Australia, Germany, Japan and the UK.

The report examined two related characteristics of this new landscape: how projects are grappling with new-found exposure to wholesale power prices and market imbalance – known as merchant risk – and corporate energy buyers’ growing role underwriting clean energy projects.

It also looks at the rapid growth in offshore wind as it gains footholds in new markets, such as the US, mainland China, Taiwan and Japan, where, for it to reach its potential, government support will need to foster local capacity and build domestic supply chains.