Morocco Seeks $20bn Emirati investment in Renewable Energy
Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President of the UAE and Emir of Dubai the 5th edition of the Annual Investment Meeting (AIM) took place on March 30 at 1 April 2015 and this year’s theme was “The role of innovation and technology transfers: FDIs to promote sustainable development”.
Said Mouline Director General of the National Agency for Development of Renewable Energy and Energy Efficiency was among the Moroccan delegation who met potential investors over 3 days. He said: “We have met the principal banks and other finance actors and we try to eliminate the barriers preventing the development of renewable energy by private and public sectors. We therefore encourage private companies to produce energy in our territory.”
Morocco wants to see Emirati investors inject $ 20 billion in the energy sector. Morocco hopes to expand the country’s energy sector in order to reduce its dependence on energy imports. With energy generated from renewable sources, natural gas and coal, the country plans to increase its energy capacity of over 14 GW in 2020.