RABAT, Oct. 3 (Xinhua) -- The Moroccan energy minister said on Wednesday that his country will invest more than 40 billion U.S. dollars in the energy sector by 2030.
Aziz Rebbah, Moroccan Minister of Energy, Mining and Sustainable Development, made the announcement on the sidelines of the ongoing conference on Solar Power and Chemical Energy Systems (SolarPACES) held in Casablanca, largest city in Morocco.
Of the total investment budget, 30 billion dollars will be dedicated to renewable energy projects, Rebbah said.
These investment projects represent great opportunities for the national, regional and international private sector, he added.
The minister also highlighted the increased demand for energy in the North African kingdom, saying its overall consumption of primary energy amounted to 20.8 million tons in 2017, with 55.9 percent from oil and 25.5 percent from coal.
Renewable energy, such as wind, hydroelectric and solar power, contributed 5.8 percent of consumption in 2017, compared to only 2.6 percent in 2002, he noted.
Morocco aims to produce 42 percent of its electrical power from renewable energy by 2020 and 52 percent by 2030.
