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Saturday, Mar 02, 2024

Morocco targeting 50% renewable use by 2030, PM tells Davos 

Morocco targeting 50% renewable use by 2030, PM tells Davos 

Morocco has “become a leader” in sustainable development and is targeting 50 percent reliance on renewable energy by 2030, the country’s prime minister has told a Davos forum.
Moroccan Prime Minister Aziz Akhannouch said during a special address on Wednesday: “Renewable energies now account for 38 percent of our energy mix, and our ambition is to reach 50 or 52 percent by 2030.”

He told the World Economic Forum that the country’s targets were “very possible,” describing Morocco as “very favorable to renewables” due to its climate recording 3,000 hours of sunshine per year.

The country can also “offer to produce energy through wind speed that will provide one of the cheapest renewables in the world,” he added.

Morocco’s strategic position “gives it a place of choice in the value chains of the world,” he said, adding that the country “has one of the most abundant and cheapest resources in the world, which will help in the development of green hydrogen (and) will also play into the de-carbonization of the world.”

WEF President Klaus Schwab described Morocco as “a brick in the connection between nations of the world” through its location in Africa, the continent with the fastest growth worldwide.

Schwab hailed Morocco’s entry into the African Continental Free Trade Area last year, a pact that is considered the world’s largest free trade area.

“Morocco truly believes in a positive future for Africa. Africa can feed the world in the future if farming investments are made. Morocco has vast human resources — it is a very large market,” Schwab said.

“Africa’s trade with the rest of the world is 60 percent and inter-African trade is only 16 percent. This free trade area is a fantastic and transformative initiative for Africa to boost investment and trade.”

Schwab described reform plans in Morocco as “impressive” as they “are not just plans but are delivering results that are already very visible.”

Akhannouch said that Morocco has become a regional model under the leadership of King Mohammed VI.

“In Morocco, we are well aware of the position we wish to occupy in the world, and this is why we have a new investment charter — a new attractive, incentivizing framework for international and national investors, which we are aiming to obtain with our reforms,” he added.

“We have built infrastructure, the best world-class infrastructure, connectivity (via) sea, land and air ... the first high-speed train in Africa, the largest Mediterranean seaport, and very soon, a large seaport on the Atlantic ocean, as well as 14 international airports which provide the ability to travel across Africa.”

“These infrastructures have allowed Morocco to obtain a very attractive tourism sector, a high-performance industry, a fantastic agriculture sector, industry in the automotive and aerospace sectors — and we have also established relations of trust establishing Morocco as a trusted partner in Africa.”
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