EnergyWeek Morocco will take place from 14-15th November in Marrakech. The event is a platform for decision-makers in the energy sector to discuss the progress of regional power projects in North & West Africa
Two separate investment meetings will be hosted within this week – the 3rd annual Africa Renewable Energy Forum and 2nd annual Gas Options: North & West Africa to explore opportunities for gas and renewable energy project development.
The event is endorsed by the Ministries of Energy of Morocco, Burkina Faso, Ghana, Gabon, Liberia, Mali, Mauritania and Sierra Leone with the support of leading Moroccan organisations ONEE, ONHYM, MASEN and AMEE, as well as lead private sector companies BP, Cheniere, Fieldstone, Skypower, ENGIE, Wartsila, Acwa Power, Ibvogt and Larsen & Toubro.
Recent estimates from IRENA indicated US$32 billion is required each year from 2015 to 2030 to fully exploit Africa’s renewable energy potential. With many North & West African countries harbouring significant untapped natural resources, a vast potential exists for the continued development of an investment in renewable power projects. Ambitious goals have been set by governments to increase renewable energy generation, such as Morocco’s targets of achieving 52% clean energy from sources such as solar and wind by 2030, or Nigeria’s vision of renewables accounting for 10% total energy consumption by 2025.
Milestone projects are now driving forward this momentum, such as Morocco’s 580MW Noor Ouarzazate IV power station, scheduled to be fully commissioned by October 2018, or Senegal’s 29 MW Senergy 1 solar PV plant – currently the largest solar farm in West Africa.
With gas widely considered the most affordable and clean base-load energy source, new discoveries in the gas sector are stimulating sector growth and infrastructure development, paving the way for the emergence of new players such as Senegal and Mauritania. With African countries, both importing and exporting gas, the development of regional projects is set to benefit both gas producing and non-producing countries by supporting industrial and economic development.