Morocco Seeks to Invest Up to $2 Billion Annually in Renewable Energies

One of the sessions of the third edition of the World-to-X Summit, which was held in Marrakesh (Asharq Al-Awsat)
One of the sessions of the third edition of the World-to-X Summit, which was held in Marrakesh (Asharq Al-Awsat)
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Morocco Seeks to Invest Up to $2 Billion Annually in Renewable Energies

One of the sessions of the third edition of the World-to-X Summit, which was held in Marrakesh (Asharq Al-Awsat)
One of the sessions of the third edition of the World-to-X Summit, which was held in Marrakesh (Asharq Al-Awsat)

Moroccan Minister of Energy Transition and Sustainable Development Leila Benali underlined the need to triple annual investment in renewable energies to prepare for a future economy based on green hydrogen.

The minister highlighted her country’s intention to invest in partnership with the private sector, with a budget ranging between one and two billion dollars annually, on a consistent basis, in order to build a stronger social and economic model and accelerate the energy transition.

Benali’s statements came during a plenary session entitled, “Green Hydrogen and the Road to COP28,” which was organized on Tuesday in Marrakesh within the framework of the third edition of the World Power-to-X Summit, which brings together renewable energy players to discuss the production of green hydrogen and its applications.

The Moroccan minister said that green hydrogen could constitute an effective solution to decarbonize the energy sector, especially in light of high energy consumption, stressing the need to “follow a practical approach to achieve our goals, including meeting 52 percent of our energy needs from renewable energy sources by 2030.”

Benali noted that Morocco has gained a great experience in renewable energies and possesses huge qualifications in the field. She pointed to the exceptional solar potential in several regions of the country, as well as political and legal stability, thanks to a favorable environment for investors and advanced partnerships with the European Union.

For her part, the EU Ambassador to Morocco, Patricia Llombart Cussac, said that Morocco has become a natural partner for building relationships in the energy sector, through its large energy resources, its proximity to Europe and the ties of friendship and cooperation that have developed at all governmental, entrepreneurial, societal and humanitarian levels.

The senior diplomat added that the European Union and Morocco have strengthened communication and developed an ambitious action plan for this green partnership, in the field of energy transition, adaptation to climate change, environmental protection, and the means to strengthen the green and blue economies.

Cussac added that hydrogen would become an essential element in decarbonizing energy systems, thus achieving climate goals.

The third edition of the World Power-to-X Summit is attended by more than 1,000 participants and 170 international experts, who share their expertise within the framework of 35 scientific sessions and five parallel events.



Tunisia Gets Offers in 75,000 T Soft Wheat Tender, Traders Say

Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
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Tunisia Gets Offers in 75,000 T Soft Wheat Tender, Traders Say

Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)

The lowest price offered in the international tender from Tunisia's state grains agency on Thursday to purchase about 75,000 metric tons of soft wheat was believed to be $262.91 a ton cost and freight (c&f) included, European traders said.

Offers are still being considered and no purchase has yet been reported. The lowest offer is not always accepted if conditions attached to it are regarded as unattractive, Reuters reported.

The lowest offer was believed to have been submitted for optional-origin wheat by trading house Cargill for 25,000 tons, they said.

Cargill also made the next lowest offer of $263.91 also for 25,000 tons, they said.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

Shipment was requested between May 20 and June 30 depending on origin supplied.