Morocco will host the next climate change conference by November next year, with plans to obtain more than half of its energy from renewable sources by 2030.
The North African country raised its renewable energy target from 42 per cent by 2020 to 52 per cent by 2030. From the 42%, it will consist of 2 gigawatts each of solar, wind and hydro power.
Morocco’s restricted hydrocarbon resources has pushed it to be a leader in the renewable energy competition.
Morocco initiated its renewable energy law not far from 5 years ago, which gave them the opportunity for the development of private power production, allowing investors to construct renewable energy projects and sell the electricity directly to customers.
International financial institutions are also climbing on board for Moroccan renewables.
Sponsors will be providing €126 million for the construction, operation and maintenance of the 120MW Khalladi wind farm near Tangiers.
Renewable energy needs to be embedded in the Moroccan economy and should be regulated within the structure of market in the country. By November next year, Marrakech will be hosting a COP22 summit for the innovation and adaptation to the climate change effect.
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