Morocco has set a target of investing $1bn a year in solar and wind power with the aim of generating a majority of its energy from renewables and cutting its electricity imports, business website Zawya reports.
It will add up to 1GW a year to its installed capacity. Morocco produced around 4.6GW from renewable energy last year and has goals for renewables to be 52% of its energy mix by 2030 and nearly 80% by 2050.
Leila Benali, Morocco’s energy minister, said this level of spending was “unprecedented” and would be supplemented by a 300% growth in private investment.