Morocco will be spending huge sums to develop renewable energy
Morocco s second Energy Conference May 31 in the northeastern city of Oujda Morocco held, the meeting stressed that renewable energy development in Morocco an important strategy for sustainable energy, and money in the next decade to develop renewable energy sources.
The meeting decided that 2011-2020 will invest 174 billion dirhams (about $ 21.75 billion) focus for the development of solar, wind and other renewable clean energy.
Accordance with international and domestic energy sector and the development of renewable energy enterprises signed five agreements, Morocco will increase investment in clean energy industries; to establish renewable energy research; with Germany and the United States to expand cooperation in energy companies; implementation Morocco Solar Energy Department plans five new solar power plant investment and construction, solar power by 2020 goal of 2,000 megawatts; Tangier will also further expand the wind power plants and other northern areas, to reach 1,000 MW of generating capacity .
It also proposed to continue this energy to reduce energy consumption, improve energy efficiency and other measures, including the replacement of 4.6 million energy-saving lamps, through tax incentives for businesses to save energy.
Morocco, about 90% of energy needs to import, the current oil ratio of its total energy consumption of about 62%. To get rid of dependence on oil imports in December 2009 at the First Energy Conference, the Moroccan government to develop renewable energy development strategy, in particular the use of abundant local energy and wind energy resources, through the National Fund, to attract foreign investment and a variety of ways to encourage private investment to build solar and wind power stations, plans to Morocco in 2020 about 40% of electricity consumption from renewable energy sources.