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. The report was supported by the Global Solar Council (GSC) and Cluster EnR, the Moroccan renewables’ association.
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.
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The 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.
52% renewable power share by 2030
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.
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During the report’s online launch, Ditte Juul Jørgensen, Director-General of the Directorate-General for Energy (DG ENER) at the European Commission, 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 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.“
2.2 GW solar capacity added by 2028
Fatima Zahra El Khalifa, Director General of Cluster EnR 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.”
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Sonia Dunlop, CEO of the Global Solar Council 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.”
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. (hcn)
