PHOTO
Construction, Research and Development, and Job Training Essential for Morocco to Generate Half of Energy from Renewables by 2030
Abu Dhabi, United Arab Emirates - Morocco's recently-announced goal to generate more than half of its electricity from renewables by 2030 presents strong business opportunities, energy experts announced today at the World Future Energy Summit.
By 2030, Morocco aims to generate 52 percent of its electricity from renewables, including 2 gigawatts each from solar, wind, and hydroelectric power, Morocco announced at the recent COP 21 United Nations Climate Change Conference.
Currently Morocco' is the Middle East's largest energy importer, at more than 97 percent of its total, according to the World Bank.
Demonstrating the strong investment and business potential, the Moroccan Agency for Solar Energy (MASEN)'s Solar Integrated Projects call for USD 9 billion in investment by 2020, according to a recent report by the World Future Council.
Meeting Morocco's ambitious renewable energy targets will require international investment and sharing of global best practices, as the country flips the equation from being an energy importer to potential exporter, Morocco-watchers agreed.
Encouraging new business opportunities and innovation in the solar markets of Morocco and the region is the WFES Solar Expo. More than 150 solar exhibitors will interact with innovators, project developers, and buyers to experience the latest solar innovations, learn about solar trends, and network with solar experts at the WFES conference.
Morocco's signature solar project is Noor, which is set to be the world's largest concentrated solar power plant in the world, with a capacity of more than 500 megawatts and set to power 1.1 million homes by 2018, according to the World Bank.
Supporting Morocco's renewables, the World Bank has joined the European Bank for Reconstruction and Development, BMCE Ban, and Clean Technology Fund in investing in solar plants and wind farms in Morocco. Morocco will also host COP 22 in 2016.
Masdar and the Moroccan government recently announced a partnership to install solar home systems in more than 17,000 homes in rural Morocco. Furthermore, Masdar recently announced that Morocco is one of three key markets in the Middle East and North Africa for renewable energy investment over the next 10 years.
WFES 2016, hosted by Masdar, will be co-located with the International Water Summit and EcoWASTE at the Abu Dhabi National Exhibition Centre from 18-21 January 2016.
-Ends-
About Masdar
Masdar is Abu Dhabi's renewable energy company advancing the development, commercialisation and deployment of clean energy technologies and solutions. The company serves as a link between today's fossil fuel economy and the energy economy of the future. Backed by the Mubadala Development Company PJSC, the strategic investment company of the government of Abu Dhabi, Masdar is dedicated to the Emirate's long-term vision for the future of energy.
For more information about Masdar, please visit: www.masdar.ae
Stay connected: facebook.com/masdar.ae and twitter.com/masdar
About World Future Energy Summit
The World Future Energy Summit (WFES) is the world's most influential event dedicated to advancing future energy, energy efficiency, and clean technology. Held each year at the Abu Dhabi National Exhibition Centre, WFES is hosted by Masdar Institute. The WFES 2015 exhibition and conference saw 650 companies from 40 countries, and more than 32,000 attendees from 170 countries participate. For more information, please visit www.worldfutureenergysummit.com.
About Abu Dhabi Sustainability Week
Abu Dhabi Sustainability Week (ADSW) is the ground-breaking global forum that unites thought leaders, policy makers and investors to address the challenges of renewable energy and sustainable development. With the global population set to reach nine billion by 2050, ADSW promotes collaborative thinking and development to accelerate the sustainable solutions needed to support rapid economic and population growth. An Abu Dhabi government initiative, ADSW is the largest gathering on sustainability in the Middle East and a significant forum in stimulating the international dialogue and action. For more information, visit www.abudhabisustainabilityweek.com.
© Press Release 2016
