What's Happening?
Morocco has announced plans to phase out coal-fired power generation by 2040, contingent on securing international climate finance. The country, which joined a coalition of 60 governments committed to ending
coal power, is accelerating investments in natural gas and renewable energy. Currently, coal accounts for over 60% of Morocco's electricity generation. The government aims to increase the share of renewables in its power capacity to 52% by 2030. This initiative is part of Morocco's broader strategy to reduce greenhouse gas emissions by 53% by 2035, compared to a business-as-usual scenario.
Why It's Important?
Morocco's commitment to phasing out coal power is a significant step in the global effort to combat climate change. By transitioning to renewable energy, Morocco not only aims to reduce its carbon footprint but also positions itself as a leader in clean energy within Africa. This move could attract international investment and support, further boosting the country's economic and environmental goals. The success of Morocco's plan could serve as a model for other nations seeking to balance energy needs with climate commitments.
Beyond the Headlines
Morocco's clean energy ambitions are underscored by its recent announcement of Africa's first battery gigafactory, a $5.6 billion investment led by China's Gotion High-Tech. This facility will produce batteries for electric vehicles and energy storage, primarily serving European markets. The development highlights Morocco's strategic positioning in the global shift towards low-carbon technology, potentially enhancing its economic growth and technological innovation.
