Morocco's National Office of Electricity and Potable Water (ONEE) Receives €300 Million Financing for Renewable Energy Integration
The National Office of Electricity and Potable Water (ONEE) has secured a €300 million financing package, comprising loans from the European Investment Bank (EIB) and the German public bank KfW, to strengthen the integration of renewable energies into the national electricity grid.
Financing Breakdown
- €170 million from the EIB
- €130 million from KfW
This funding will enable the extension of the electricity transmission network over a distance of 730 kilometers.
ONEE's Ambitious Development Plan
By 2030, ONEE plans to invest $19 billion in its electricity development plan, coinciding with Morocco's co-hosting of the FIFA World Cup with Portugal.
The plan aims to increase the share of renewable energies to 56% of installed capacity by 2027, surpassing the original 2030 target. Currently, this share stands at 45%, equivalent to 5.5 GW of Installed Capacity**
Renewable Energy Ambitions
- Add 15 GW of installed capacity by 2030, with 12 GW coming from renewable sources
- Currently, coal accounts for over 70% of national energy production, prompting Morocco to diversify its energy mix
Recent Developments
- ONEE has recently signed an agreement with TAQA, a UAE-based energy company, to build a 1,400 km high-voltage transmission line, capable of transmitting up to 3,000 MW between renewable energy production sites in Western Sahara and the country's center**
Gaz Naturel Liquéfié (GNL) Terminal Tender
In April, a tender was launched for the construction of a liquefied natural gas terminal in Nador, on the Mediterranean coast, further diversifying its energy mix.
