Morocco is wild, yet for the average business or tourist traveler tame and safe. You can walk out of your riad in Marakesh and get lost in another time. Meander around the market in Fez and feel forever connected to Arabian Nights, or wind around the modern city of Casablanca for good food and pleasant chats with locals. You won’t find Clarke Gable in Morocco, but business investors interested in new financing opportunities might be advised to head to the EneR event in Casablanca later this month, November 22 to 26.
The EneR event has already signed up nearly 200 exhibitors, and is expecting 4,000 visitors interested in financing projects and developing renewable energy business in Morocco. Want to create a sustainable future for the North Africa region? Consider investing in Morocco.
Here’s why I think Morocco is a good bet:
Unlike Syria, or Egypt, Morocco has been stable politically during the Arab Spring uprisings. Its airports, like the one in Marrakesh boast solar panels, and its resort owners, locally and international ones like those from the Kasbah du Toubkal are developing sustainable eco-tourism. Out of all the Arabian-Middle Eastern countries I have visited, Morocco felt the closest to the west –– and it could be because of the proximity to Spain a short plane ride away and the French and Swiss influence which is strong. Compared to Europe, its renewable energy goals are startling: Morocco aims to be 42 percent fueled by solar energy by 2020 with a $9 billion USD investment.
Who’s investing in Morocco?
Bloomberg is reporting that the Sahara solar initiative backed by the German turbine maker Siemens AG and Deutsche Bank AG will sketch out plans in 2012 for its first power plant, a 600 million-euro ($800 million) station in Morocco.
Morocco’s link in the proposed Medgrid renewable energy projectMorocco’s key role in the Desertec initiative (Dii)
More on EneR
The EneR event will be a place to network among this massive investment opportunity in the Moroccan and African energy economies. Among stakeholders to meet and network with is FENELEC – the Moroccan Federation of Electricity, Electronics and Renewable Energies – and organizer of the conference. The organization represents more than 300 renewable energy companies in Morocco.
Morocco is moving fast towards the clean energy mix as the Moroccan government aims to produce a considerable amount of the country’s energy from renewable sources. By 2015, more than 2000 megawatts of power from solar energy alone shall be generated through various projects in Morocco.
A combination of its rising population, ambitious housing programs, projects such as metros and railway electrification, and the growth of desalination and energy-intensive industries means that demand for electricity is expected to continue growing rapidly in Morocco. Dramatic capacity increases are therefore needed.
Morocco is the first Arab country to put forth a bill to promote renewable energy and energy efficiency to its council of ministers. Morocco hopes to be the trendsetter of renewable energy dreams and goals in the Middle East and North African regions.
For those interested entrance to the EneR event is free.