The Moroccan Ministry of Energy Transition signed an agreement with the International Finance Corporation (IFC), a subsidiary of the World Bank, to develop a roadmap for natural gas to achieve 52% of electricity production from renewable energy by 2030.
The ministry stated that the deal also aims to foster a partnership between the public and private sectors to develop the country’s gas infrastructure as part of the state’s energy transition plan.
The statement highlighted that “natural gas plays a pivotal role in Morocco’s energy transition and carbon removal strategy, as it has lower carbon emissions and versatile applications.”
It further explained that the country aims to enhance its local gas infrastructure to ensure supply security and connect sources of entry to consumption areas.
The International Finance Corporation will support the ministry through feasibility studies and transparent and competitive tendering processes for gas, in accordance with national laws, with the aim of selecting one or more private sector partners for the development, financing, and operation of the infrastructure.
Morocco intends to generate 52% of its electricity from renewable energy sources by 2030, according to a previously announced action plan.
The country is striving to seize opportunities in the renewable energy sector in order to reduce its reliance on imported oil, which currently accounts for about 94% of its energy consumption.