Morocco to attract $30bn in energy investments by 2030
Morocco is aiming to attract around $30 billion (Dh110bn) in investments to its energy sector by 2030 as it looks to add 10GW of renewable capacity as well as develop a liquefied natural gas plant to meet its growing power needs.
"Between 2017 and 2022, we have around $13bn but for 2030 it will be more than $30bn of investment coming from both public and private sectors and coming from many countries,” Aziz Rabbah told The National on the sidelines of the Berlin Energy Dialogue.
Energy Minister: Morocco Is Promising Destination for German Investors
Rabat – Minister of Energy, Mining, and Sustainable Development Aziz Rabbah has emphasized that Morocco is interested in a joint venture with Germany in the energy sector.
“Morocco is a promising destination for German energy investors,” said Rabbah.
Rabbah made the remarks in a meeting with German energy officials during the Berlin Energy Transition Dialogue on Monday.
Turkey set to invest $11 billion in energy efficiency
Turkey aims to invest roughly $11 billion in energy efficiency over the next five years, cut its primary energy consumption by 14 percent, and reduce 66 million tons of CO2 emissions, Turkey's Deputy Energy and Natural Resources Minister Alparslan Bayraktar said on April 9.
ENGIE and SUEZ launch the first photovoltaic solar power park under their partnership to develop the energy transition in France
Today, ENGIE and SUEZ inaugurated the Drambon-Pontailler photovoltaic solar power park, in the Côte d’Or. This facility is the first project completed under the partnership between ENGIE and SUEZ, which aims to develop renewable energies in mainland France, by transforming waste storage facilities into solar farms.
Jordan hopes to diversify its energy sources and boo
Jordan hopes to boost its economic growth up to 5 per cent on the back reconstruction of neighbouring countries and investment in domestic export-oriented sectors, while lowering its swelling public debt by diversifying its energy sources that include an oil pipeline with Iraq and beefing up renewable energy sources, the country's prime minister said.
Morocco strives to reduce energy bill
RABAT - A report on energy efficiency by the Moroccan Centre for Economic Conditions stated that the expected increase in demand for electricity would become a major challenge for Morocco.
The report said that, for the last two decades, Morocco had focused on exploration and investment in the energy sector to develop its current energy resources, with special attention to renewable energies..
Lebanon announces 2nd round of bidding for energy licenses
BEIRUT: Lebanon’s energy minister has announced a second round of bidding for licenses to search offshore for oil a day after the cabinet approved it.
Energy Minister Nada Boustani said the deadline for companies to submit their offers for five of the country’s 10 offshore blocks is Jan. 31, 2020.
ENERGY: Cyprus policy to turn East Med into safe supply route
He was addressing an audience of diplomats and defence and security experts at London’s RUSI on during his two-day official visit to the UK.
Angelides is also meet his British counterpart Gavin Williamson on Thursday.
IFC, Ministry of Petroleum help boost critical energy infrastructure in Egypt
The International Finance Corporation (IFC), a member of the World Bank Group (WBG), announced on Wednesday a joint effort with Egypt’s Ministry of Petroleum and Mineral Resources that aims to support Egypt in becoming a regional energy hub for the eastern Mediterranean region as well as improve its energy infrastructure.
Tomislav Coric Discusses Croatia's Aims in Renewable Energy in Bilbao
As Jasmina Trstenjak/Novac writes on the 2nd of April, 2019, the Republic of Croatia must, and is, turning more and more strongly towards using its own renewable energy sources, this was the main message of the Minister of Environmental Protection and Energy of Tomislav Coric at the Wind Europe 2019 Conference & Exhibition, held April from the 2nd to the 4th of this month in Bilbao, Spain.
King Felipe highlights Spain’s role in EU energy transition
BILBAO, Spain – Energy transition truly represents a “remarkable opportunity” and Spain has an important role in boosting the European Union’s renewable energy potential, King Felipe VI of Spain told a WindEurope conference in Bilbao on 2 April.
Italy may need 6 GW of energy storage by 2030 as renewables surge
The Italian power transmission network operator (TSO) Terna estimates that Italy may require at least 6,000 MW of electricity storage capacity by 2030 to cope with the boom of intermittent renewable energy projects. Italy is estimated to add 40,000 MW of renewable generation capacity by 2030, 3/4 of which would consist of solar photovoltaic (PV) projects, which would help offset the closure of 7,200 MW of coal-fired capacity.
Turkey plans hikes in solar energy capacity
(MENAFN) Turkish Energy and Natural Resource Minister Fatih Donmez announced the country to be planning hikes on its solar energy capacity.
In the near future, Turkey is determined to inject 1,000 megawatts to its solar energy capacity as it looks to further strengthen the sector.
Lebanon to raise energy production by 1,450MW
(MENAFN) Lebanon is seeking to see hikes in the production of energy early next year under a power plan presented by the Energy Ministry.
According to the power plan, Lebanon will be adding 1,450 megawatts to its energy production capacity.
REE to invest EUR 3.2bn to aid energy transition in Spain
March 22 (Renewables Now) - Spanish grid operator Red Electrica de Espana (REE) will invest a total of EUR 3.221 billion (USD 3.6bn) in the development of the high voltage transport network and the operation of the electric system to enable the energy transition across the entire territory of Spain.
Israel Energy Minister Steinitz on Natural Gas Plans
Mar.22 -- Israel Energy Minister Yuval Steinitz discusses gas production and exports to Europe. He spoke with Bloomberg's Alix Steel from the CERAWeek energy conference in Houston, Texas, on March 12, 2019.
Lebanon: EU-funded Workshop about energy transition in the Mediterranean region
The meetMED project (The Mitigation Enabling Energy Transition in the Mediterranean region ) workshop on Monitoring Tools for EE and RE Indicators in the Mediterranean is taking place in Beirut, Lebanon, on 20 – 22 March 2019.
Italy's Enel puts faith in green energy, grids to power growth
MILAN (Reuters) - Enel, Europe’s biggest utility, pledged to grow its green energy and grids business in Italy and the Americas on Thursday as it reported a rise in profits and dividends and stuck to its targets for 2019.
Greece ‘aware’ of Turkey's energy rights in eastern Mediterranean, FM says
Greece recognizes Turkey's rights concerning the abundant energy resources in the eastern Mediterranean, Greek foreign minister said Thursday.
Israel And Egypt Compete To Become New Energy Hub
(MENAFN - Baystreet.ca) The discovery of the giant gas field Tamar of the coast of Israel in 2009 was the beginning of a new period for the Eastern Mediterranean as an energy hot spot.
Greece ‘jeopardising’ project to end Cyprus energy isolation
Nicosia-based EuroAsia Interconnector has urged Athens to re-engage in discussions on a joint EU-funded project to connect the power grids of Israel-Cyprus-Crete and mainland Greece or risk it not going ahead.A similar appeal was made by the EU’s Energy Directorate chief and Cyprus regulators on February 27 (joint announcement), as well as the Cyprus energy ministry that urged Greece not to isolate Cyprus.
EBRD and BMCE Bank of Africa support green energy investments in Morocco
A comprehensive financial package of the EBRD provided to BMCE Bank of Africa and supported by the Green Climate Fund (GCF) will boost investments in the green economy in Morocco.
School rooftops will generate solar energy for 16000 houses in the West Bank
The European Investment Bank (EIB) and the Palestine Investment Fund (PIF) have signed a loan agreement worth USD 18 million to finance the installation of rooftop photovoltaic (PV) systems on 500 public schools in the West Bank. The EIB’s investment, which falls under the Economic Resilience Initiative (ERI) will generate 35 MW of clean energy enough to power more than 16000 houses across the West Bank
Supply diversity, optimal prices lucrative for Turkey's energy demand
Located on the transit routes of one of the world's largest gas-rich regions, including Russia, Central Asia, the Caspian Sea, Iran and the Mediterranean, Turkey has built up efforts to diversify its gas supply routes in the last two decades along with more suppliers providing liquefied natural gas (LNG) to the country. These efforts to boost supply security for a fast-growing country with an ever-increasing population, currently 82 million people, have also reinforced Turkey's energy cooperation with regional countries, Europe and the U.S.
Italy supports EU initiative to boost investment in sustainable energy in developing countries with €5 million
Today, Francesco La Camera, Director-General of the Italian Ministry of Environment, Land and Sea signed a €5 million support agreement to ElectriFI (link is external) – the EU flagship initiative to de-risk sustainable energy investments in developing countries.
Stefano Manservisi, the European Commission’s Director-General for International Cooperation and Development, welcomed the contribution and said: “I commend the Italian government’s commitment to help mobilise private sector investment in rural and underserved areas. All efforts count in order to reach the sustainable energy goals worldwide.”