Morocco is investing in 17 new national projects, including in renewables: Morocco’s National Investment Commission has approved the allocation of USD 7.6 bn for 17 projects across several sectors including renewables, Morocco World News reported last week.

The breakdown: Some USD 304 mn will be invested in renewable energy projects, representing 4% of the newly approved budget. Seawater desalination projects will get 14% of the pie, and the majority of the remaining investment will go to the industrial sector, the news outlet said. Six other projects with a potential value of USD 5.4 bn are in the process of being reviewed by the Technical Committee for Strategic Investment Projects, including four projects in the EV and battery manufacturing sector.

REMEMBER- Morocco has been attracting foreign investment in the renewable and EV sectors, with the Spanish Confederation of Business Organizations eyeing a number of potential investments in Morocco’s renewables sector. China’s BTR is investing USD 1.2 bn in a EV battery components facility in Morocco and the International Finance Corporation extended a green loan of EUR 100 mn to Moroccan state-owned fertilizer and phosphate giant OCP Group to help finance the development of four solar plants. Taqa Morocco also plans to sink USD 1.6 bn into renewables projects by 2030.

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