New report spotlights Morocco’s solar investment potential

• SolarPower Europe, supported by the Global Solar Council (GSC), and Cluster EnR, the Moroccan renewables’ association, launches its first report on solar investment opportunities in Morocco.
• This latest work of SolarPower Europe’s Global Markets Workstream explores the numerous investment opportunities within Morocco’s solar sector, highlighting the country’s market dynamics, regulatory frameworks, as well as concrete recommendations to accelerate solar deployment.
• The report outlines Morocco’s renewables’ targets; the country aims to generate at least 52% of its electricity from renewable energy sources by 2030, positioning itself as a regional leader in the energy transition in Africa.

BRUSSELS, Belgium (Tuesday 18th March): SolarPower Europe has published its ‘Morocco: Solar investment opportunities’ report. This new publication offers key insights into the Moroccan solar sector, and opportunities for international investment. 

During the report’s online launch, Ditte Juul Jørgensen, Director-General of the Directorate-General for Energy (DG ENER) at the European Commission (she/her), said in a video statement; “Morocco has emerged as a frontrunner in renewable energy, with ambitious goals to achieve 52% of installed electricity capacity from renewables already by 2030; solar energy is at the heart of this transition…The report serves as an excellent blueprint for action and an important tool for investors, businesses and policymakers to seize the opportunities before us.”

Gustavo Fernandes, Head of Africa and International at Voltalia, and Chair of SolarPower Europe’s Global Markets Workstream (he/him) stated; "Morocco is a vibrant market on the threshold of significant solar growth, set to become a key global player in the renewable energy sector. This report aims to provide policymakers with actionable recommendations to help unlock the country's full potential, and drive its transformation."

Ms. Fatima Zahra El Khalifa, Director General of Cluster EnR (she/her) said; "Morocco's abundant solar potential positions it as a key player in the renewable energy sector. This study highlights the country's significant role in becoming a regional energy hub. With strategic investment in solar infrastructure, Morocco is poised to realise its full potential, accelerate its energy transition, and foster long-term sustainable growth.”

Morocco is committed to expanding its renewable energy capacity, aiming to reach a 52% share of its total electricity capacity by 2030. As the country undergoes its energy transition, the solar sector, in particular, is experiencing a consistent growth, offering investors a chance to contribute to a sustainable future while achieving attractive returns. The report’s most likely ‘medium’ scenario forecasts that Morocco will reach 2.27 GW of total installed solar capacity by 2027, and 2.97 GW by 2028.

Benjamin Clarke, Global Markets Manager at SolarPower Europe (he/him) highlighted; “Morocco’s solar future is shining bright! SolarPower Europe's solar investment reports have supported national energy transitions around the globe, with industry recommendations on boosting solar growth. We hope that this report serves as a roadmap to the Moroccan authorities as they accelerate renewable investments, and harness the nation’s immense solar potential.”

Sonia Dunlop, CEO of the Global Solar Council (she/her) said; “Morocco has been a solar pioneer in Africa, and we expect another 2.2 GW of solar capacity to be added by 2028. With a robust regulatory framework, long-term ambition and rising electricity demand catalysed by the country’s green hydrogen strategy, costs will continue to plummet for solar, opening new investment opportunities.”

This publication was drafted by SolarPower Europe’s Global Markets Workstream. The workstream was launched in March 2018, to identify new avenues for worldwide business and cooperation, and contribute to the global energy transition. 

The report is the fifteenth in a series of SolarPower Europe’s global market reports, which includes: Algeria, Côte d’Ivoire, India, Kazakhstan, Latin America, the Middle East, Mozambique, Myanmar, Oman, Senegal, Tunisia, and Vietnam.

Notes:

• The ‘Morocco: Solar investment opportunities’ report provides an overview of Morocco’s business environment, and major macroeconomic trends, while analysing the regulatory framework and infrastructure network of the country. It maps the Moroccan energy sector, including the energy mix, key stakeholders, and the policy and legislative framework governing renewable energy generation, more specifically regarding solar energy generation. Finally, the report’s recommendations reflect the evolving dynamics of the energy sector in the country.

• The Global Solar Council is the voice of the world’s solar PV industry representing corporate members across the value chain as well as national, regional and international associations to accelerate solar deployment globally.

• Cluster EnR is a Moroccan renewables association working to develop a competitive renewable energy industrial sector. Their objective is to contribute to capacity-building and the development of industrial skills in the fields of solar and green technologies. 

• Please find the full link to Ditte Juul Jørgensen's video statement here.

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