EU to invest €1.6bn in energy transition in Morocco by 2027
17 February 2022
Morocco wants to reduce its greenhouse gas (GHG) emissions by 45.5% by 2030, by increasing the share of renewable energy by 52% by 2025. In order to achieve this more safely, the authorities of this North African kingdom have just signed a new partnership with the European Union (EU) to finance the energy transition.
This EU investment worth €1.6 billion (nearly 18 billion Moroccan dirhams) over five years is part of the “Global Gateway”. This program aims to mobilize 300 billion euros over the period 2021-2027 for sustainable projects in the field of infrastructure, digital and climate between the EU and its partners.
The funds of the “Global Gateway” come from the European Union’s own resources (18 billion euros of subsidies), funding granted by the 27 Member States, as well as funds from European financial institutions (145 billion euros of investments) and national development institutions (135 billion euros), supported by private investments.
Related
-
GCC projects pipeline remains strong despite Q1 dip
22 May 2025
-
Malaysia’s ASEAN Chairmanship: Catalyst for the ASEAN Power Grid’s breakthrough
21 May 2025
-
Brazilian government to propose full opening of energy market by 2028 and end of discounts for renewables
20 May 2025
-
Vietnam, Russia in more talks over nuclear power
20 May 2025
-
Bali launches rooftop solar acceleration program
19 May 2025
-
Denmark may end 40-year nuclear ban to boost energy security
16 May 2025