Morocco has established itself as one of the most attractive destinations for foreign investment in green energy, particularly in solar and wind sectors, according to the latest sectoral report from the Arab Investment and Export Credit Guarantee Corporation (Daman).
Between 2003 and 2024, Morocco secured its position as the second Arab destination for foreign direct investment in renewable energy, attracting over $38.1 billion. These investments financed 55 projects implemented by 32 companies, creating 12,267 jobs representing 15 percent of regional sector employment.
The kingdom dominates wind energy production in the region, accounting for 42 percent of Arab output. Landmark projects including the Noor solar complex in Ouarzazate and wind farms in Tarfaya and Midelt demonstrate the country’s capacity to attract large-scale investments.
Morocco also features prominently in electricity-related foreign trade. In 2024, the country ranked among principal electricity exporters with $30.2 million, representing 20.7 percent of the Arab total. On imports, Morocco placed third with $2.8 billion, accounting for 9 percent of regional purchases.
The national energy strategy targeting over 52 percent renewable energy in the electricity mix by 2030 drives this attractiveness. Forecasts indicate Morocco remains on track to achieve this objective, supported by stable regulatory frameworks and strategic geographic positioning.
National electricity production should reach 43.1 terawatt-hours this year, with 9.7 TWh from wind (22.51 percent), 3.7 TWh from solar (8.59 percent), and 1.2 TWh from hydroelectric (2.78 percent), representing nearly one-third of the electricity mix.
However, technical challenges emerged in 2024 when the Noor Ouarzazate concentrated solar power facility experienced repeated technical failures causing a nine-month shutdown, with financial losses estimated at $47 million. These incidents highlight the demanding maintenance requirements and exploitation costs of CSP technology.
Morocco has progressively reoriented its solar strategy toward photovoltaic systems with battery storage, as evidenced by the Noor Midelt projects shifting from hybrid CSP-PV configurations to pure photovoltaic installations.