Dhaman: Morocco Among Leading Arab Markets for Renewable Energy Projects

Mohammedia – Morocco remains one of the most attractive destinations within the Arab region for foreign direct investment (FDI) related to renewable energy, according to the latest sectoral report from the Arab Investment and Export Credit Guarantee Corporation (Dhaman).

The study covers the period between 2003 and 2024, highlighting the country’s consistent performance in securing large-scale clean-energy projects as the region undergoes a rapid shift toward sustainable power generation.

Data presented by Dhaman reveals that the Arab world hosted a cumulative total of 360 renewable energy FDI projects over the 22-year period. These projects were implemented by a total of 188 firms across different countries, creating more than 83,000 direct jobs.

The report underscores the growing role of renewable energy within the region’s investment landscape, noting that clean electricity production alone accounts for nearly US$248 billion across 98 major projects.

Although Egypt maintains a decisive lead, taking in 45.9% of all renewable-energy investment in the region, Morocco remains firmly positioned among the top Arab destinations.

Morocco retains a share of 10.8% of the total investment made within the region and therefore stands alongside the United Arab Emirates, Mauritania, and Jordan as part of the core group of countries capturing the majority of foreign capital in the sector.

Together, these five nations account for 69% of all renewable-energy projects implemented across the Arab world, 83% of total investment cost, and 82% of new jobs created since 2003. Their combined weight reflects the maturity of their energy frameworks and their ability to attract long-term green infrastructure.

UAE, France, India, and Gulf developers lead regional investment

The United Arab Emirates emerges as the most prominent source of funding among the investors in the Arab region, according to the report by Dhaman. The UAE alone accounts for 25.2% of the total investment with the involvement of leading firms operating within the Middle East and North African regions.

The second largest investment source is France, with 49 projects accounting for 8.6% of investment within the region. The third prominent investment source is India, accounting for 8.2%.

Several other nations are also important in the financing of the region’s transition to clean energy. These include the United Kingdom, Saudi Arabia, China, the United States, Australia, Germany, and Ireland.

Their combined presence illustrates an increasingly diversified investor landscape, with global institutions eyeing North Africa and the Gulf as promising markets for large-scale solar and wind projects.

The report also provides information on the key players that define the industry today. Saudi company ACWA Power is the leading developer of the Arab renewable energy sector, boasting the largest share of projects—20 that contribute a cumulative share of 5.6% of the regional investment.

The company is followed closely by AMEA Power, a company that has operations based in the UAE, which has a portfolio of 11 projects, and Masdar, a company that has 9 projects. European companies such as Scatec Solar, Voltalia, and Building Energy are also well-represented, each boasting between 7 and 9 projects. Further down the list are other firms such as Enel Green Power, FRV, and Taqa Morocco, which amassed a cumulative total of 6 projects each.

Solar energy has the largest investment with a total of US$46.5 billion, followed closely by US$29.5 billion invested in biomass and US$25.1 billion invested in wind power.

As Morocco continues expanding its solar and wind capacity, a stable regulatory framework and long-term energy vision keep the country among the region’s most attractive destinations for renewable-energy investment.