Renewable Energy Investments in Morocco Ranked Highest Among MENA Region

Countries were ranked out of a score of 100, with Morocco obtaining a score of 58.1. Morocco's high ranking is attributable to its onshore and offshore wind energy facilities, as well as its solar energy, hydropower, geothermal, and biomass facilities.

Denver – A global ranking report placed Morocco as the most attractive location for renewable energy investments in the MENA region.

British audit firm Ernst & Young (EY) released its October 2021 list of the top 40 nations with the most viable potential for sustainable energy investment and development. A complex set of criteria were used to rank countries, including national policy, existing infrastructure, and funding.

Countries were ranked out of a score of 100, with Morocco obtaining a score of 58.1. Morocco’s high ranking is attributable to its onshore and offshore wind energy facilities, as well as its solar energy, hydropower, geothermal, and biomass facilities.

Morocco also held the top position on the African continent, ahead of Egypt, South Africa, and Kenya. In the MENA region, Morocco scored higher than both Jordan and Israel in this year’s ranking.

Globally, the US retained its top position with a score of 72.8. This was followed by China at 70.7, India at 70.2, France at 67.4, and the UK at 67.3.

Several of these countries are still among the highest producers of harmful pollutants, however the EY report is merely an indication of the nations with the highest renewable energy investment and development potential.

EY analysts pointed out in the report that global investments into renewable energy rose by 2% compared to last year. In addition, installations of renewable energy structures have increased to 45%, totaling 265 Gigawatts. This is equivalent to the amount of power produced from 9100 full-scale wind turbines.

While international bodies have continued to emphasize the importance of transitioning to renewable energy to meet global climate standards, the recent EY report is an indication of the huge economic potential for foreign investors eager to capitalize on the growing sector.

EY analysts remained optimistic about the future of renewable energy expansion across the world, stating the predicted increase over the next year could potentially be “the fastest annual growth in years.”