Morocco Eyes 10 Bln Eur

World Home U.N. U.N. Conflicts Conflicts Terrorism Terrorism Disasters Disasters Global Economy Global Economy Environment Environment Religion Religion Scandals Scandals Regions Regions

RABAT (AFP) – Morocco will invest 10 billion euros ($13.5 billion) over

the next four years to boost power generation and meet rising

demand, with renewables providing nearly half of the increase,

newspapers reported Wednesday.

With no significant oil or gas reserves, Morocco is aiming to

become a world-class producer of green energy, notably with vast

solar power projects in its southern desert region.

Under the plan drawn up by the department of water and electricity

(ONE), 112.3 billion dirhams (10 billion euros) will be spent on

raising electricity production by 4,584.5 megawatts, or 67 percent of

currently installed capacity, by 2017.

Some 45 percent, or 2,090 megawatts, of the incremental

production will come from solar and wind power, according to ONE,

cited in Moroccan newspapers.

ONE says it will provide 35.3 billion dirhams (3.15 billion euros) of

the required investment, and it remains unclear how the remaining

costs will be funded.

The oil-rich United Arab Emirates on Wednesday announced 100

million dollars in "financial support" to help with the construction of

Morocco's solar and wind power farms.

The North African kingdom enjoys strong links with Gulf

monarchies, which invited Morocco and Jordan to join the oil-rich

Print

Email

Share

Morocco eyes 10 bln euro investments in power sectorPublished September 25, 2013 / AFP

RECOMMENDED VIDEOS

MORE FROM FOX NEWS

FROM OUR SPONSORS

[What's This?]

Villagers of Dahr Saadane walk in front of the wind farm on June 28, 2010 in Tangiers. (AFP/FILE)

ShareShare

Will Amanda Knox be forced to return to Italy?

Amanda Knox speaks after Italian court convicts her again

Syria talks break up with no result

Security for the Super Bowl vs. Olympics

Ukraine activist says he was kidnapped, crucified in latest attack on protesters

Netanyahu dismisses Kerry warning about boycott threat

Ukraine's president signs bill offering amnesty to protesters

Thousands of anti-Putin protesters march in Moscow to demand release of jailed demonstrators

F-35 Program Compromised By Discovery Of Iranian Spy?Inquisitr

More›

ON AIR NOW › On Air Personalities ›

1aet Stossel 2aet HuckabeeHosted by Mike Huckabee

Listen to Fox News Radio Live ›

HomeHome VideoVideo PoliticsPolitics U.S.U.S. OpinionOpinion EntertainmentEntertainment TechTech ScienceScience HealthHealth TravelTravel LifestyleLifestyle SportsSports On AirOn AirWorld

SearchSearch

Fox Business Fox Business uReport uReport Fox News Radio Fox News Radio Fox News Latino Fox News Latino Fox Nation Fox Nation Fox News Insider Fox News Insider Login Fox News Fox News

Page 1 of 3Morocco eyes 10 bln euro investments in power sector | Fox News

03-02-2014http://www.foxnews.com/world/2013/09/25/morocco-eyes-10-bln-euro-investments-i...

Gulf Cooperation Council in 2011 in the midst of Arab Spring

uprisings.

Rabat's new rapprochement with the GCC led to the signing of a

partnership to finance development projects in Morocco worth more

than 5 billion dollars over five years.

In May, the kingdom officially launched the construction of a 160-

megawatt solar power plant near the desert city of Ouarzazate. A

Saudi-led consortium won the contract to build the complex at an

estimated cost of 630 million euros.

A 150-megawatt wind farm at Taza, near the central city of Fez, is

another showcase renewable energy project forming part of

Morocco's green power plans.

0

SHARE THIS ARTICLE

ALSO ON THE WEB

FOX NEWS SALUTES

National cemeteries needed as growing number of vets die

Rare and classic photos from the Korean War

4 Marines killed at Camp Pendleton were doing dangerous job

Reap the Most Rewards Out of Loyalty Programs -- Savings Experiment

Make Free Calls and Reduce Your Cell Phone Plan -- Savings Experiment

Age Just A Number For New Fed Chief Yellen

How to Master Couponing with Minimal Effort

Good News: There's Still Time to Trim Your Tax Bill

Fisher Sees New Housing Bubble Signs, Warns of MBS Buys

IMF: Beware Unwinding of C-Bank Stimulus

Euro Zone Business Activity Higher in September

Venezuela lacked good faith in ConocoPhillips seizure - World Bank

UK consumer price inflation falls as forecast in July

Actor Philip Seymour Hoffman dead of apparent drug overdose

India inaugurates first monorail in Mumbai

Puerto Rican comic Luis Raul Martinez dies at 51

121 Dead in Syrian regime attacks on Aleppo neighborhoods

Honduran Police Chief Suspended Over Alleged Ties To Drug Traffickers

SECTIONSSECTIONS

HomeHomeVideoVideoPoliticsPoliticsU.S.U.S.OpinionOpinionEntertainmentEntertainmentTechTechScienceScience

SHOWSSHOWS

A Healthy You & Carol AltA Healthy You & Carol AltAmerica's News HQAmerica's News HQAmerica's NewsroomAmerica's NewsroomCavutoCavutoFox FilesFox FilesFox News SundayFox News SundayFox & Friends FirstFox & Friends FirstFox & FriendsFox & Friends

Justice with Judge JeanineJustice with Judge JeanineMedia BuzzMedia BuzzRed Eye w/ GutfeldRed Eye w/ GutfeldShepard Smith ReportingShepard Smith ReportingSpecial ReportSpecial ReportSpecialsSpecialsThe Cost of FreedomThe Cost of FreedomThe FiveThe Five

TOOLSTOOLS

Live VideoLive VideoTrendingTrendinguReportuReportNewslettersNewslettersAlertsAlertsBlogsBlogsMobileMobilePodcastsPodcasts

ABOUTABOUT

CareersCareersCollege StudentsCollege StudentsFox Around the WorldFox Around the WorldAdvertise With UsAdvertise With UsTerms of UseTerms of UsePrivacy PolicyPrivacy PolicyAd ChoicesAd ChoicesContact UsContact Us

FacebookFacebookTwitterTwitterGoogle+Google+LinkedInLinkedInRSSRSSNewslettersNewsletters

FOLLOWFOLLOW



HealthHealthTravelTravelLifestyleLifestyleWorldWorldSportsSportsWeatherWeather

Fox & Friends WeekendFox & Friends WeekendGeraldo at LargeGeraldo at LargeGretaGretaHannityHannityHappening NowHappening NowHuckabeeHuckabee

The Journal Editorial ReportThe Journal Editorial ReportThe Kelly FileThe Kelly FileThe O'Reilly FactorThe O'Reilly FactorThe Real StoryThe Real StoryWar StoriesWar Stories

RadioRadioFox News StoreFox News StoreApps & DownloadsApps & Downloads

Email NewsroomEmail NewsroomFAQFAQMedia RelationsMedia Relations

This material may not be published, broadcast, rewritten, or redistributed. ©2014 FOX News Network, LLC. All rights reserved. All market data delayed 20 minutes.



Documents

Morocco Eyes 10 Bln Eur