Morocco needs to invest around $30 billion (£23bn) in its energy sector if it is to reach its renewable target for 2030.

That’s according to a new policy review published by the International Energy Agency (IEA), which notes since 2014, the Moroccan Government has stepped up efforts around renewables, energy efficiency, integrated markets, the development of indigenous resources and its role in international action on climate change.

However, the report suggests the African nation now needs to concentrate on reducing the overall energy intensity of its economy and set targets for the use of renewable technologies in the residential and transport sectors to promote the reduction of fossil fuels across the economy.

The report calls for the Government of Morocco to drive the clean energy transition and increase private investment in renewables by implementing gas and power market reforms and by bringing a planned regulatory authority into operation.

It suggests energy efficiency should be made a priority by implementing existing legislation, adopting cost-effective standards and moving quickly to agree and implement a national energy efficiency strategy for 2030.

The report calls for oil stock-holding policies to be revised, future natural gas imports to be secured and power system operation to be strengthened to help manage risks from import dependency and work towards a system with more variable renewables.

The IEA states more funding is needed to help drive technologies to support sustainable cooling, heating, transport and water management and suggests the government must focus on ensuring effective governance and inter-ministerial co-ordination to prioritise planning and carrying out the most urgent actions.

The post Morocco needs to invest $30bn to hit 2030 renewable target appeared first on Energy Live News.

, , , , , , , , ,
Previous Post
Britain coal free for a week, sets new record!
Next Post
Standard variable and fixed tariffs gap widen to highest in three years

Related Posts

Daily Energy Market Report Friday 31st May 19

Daily Energy Market Report Friday 31st May 19   A bearish open this morning with losses being posted across many European forward curves as ample supply and warmer forecasts weigh on the near-curve whilst contracts further out have taken direction from healthy storage inventories and a bearish commodity complex. The NBP has opened 8mcm undersupplied,…
Read More
Menu