What can Morocco do to boost its financial market?

Morocco's financial market is mature but there is scope for the use of instruments to unlock new funding sources. Capital recycling could help tap into fresh liquidity. Obligations could also be refinanced via public or private placement green bonds. Debt funds could also draw in a wider pool of institutional investors.

What are the different types of energy transformation in Morocco?

One of the most important types of transformation for the energy system is the refining of crude oil into oil products, such as the fuels that power automobiles, ships and planes. No data for Morocco for 2022. Another important form of transformation is the generation of electricity.

How does Morocco's procurement program affect foreign exchange risks?

MASEN's procurement program takes on foreign exchange risks when signing contracts with private generators. That significantly increases procurement costs. As Morocco's renewables market becomes increasingly mature, efforts should be made to enhance the ability of local financial institutions to extend credit denominated in Moroccan dirhams.

Does Morocco have a clean power market?

Moroccan and international markets are generally able to provide most of the clean power investment required, provided that policy, regulatory and offtake risks are properly accounted for.

Should Moroccan investors invest in renewables projects?

Moroccan institutional investors have already deployed funds for renewables projects, and this should be built upon. Foreign exchange risk has been taken on by MASEN for past procurement rounds, allowing developers to bid in hard currency.

What time does Morocco's electricity consumption peak?

Morocco's electricity consumption generally peaks after 8pm. For many years, efforts to respond to evening demand spike has relied on dispatching costly, imported heavy fuel oil costing up to $0.30/kWh. Reconciling decarbonization with system planning is therefore tricky.