Morocco's national power utility ONEE plans to build a 990 MW gas-fired power plant worth MAD4.15bn (US$420m) in northern Morocco. It would be located on the Al Wahda site near a gas pipeline used to import gas from Spain. The Al Wahda project would consist of two 495 MW open-cycle gas turbines (OCGT) using diesel as an emergency fuel, with the first one expected to be commissioned within 28 months and the second one within 31 months (2027). ONEE will finance 20% of the project, with the remaining 80% financed through loans by Attijariwafa Bank, Bank of Africa, and two securitization funds FT Nord Energy and FT Flexenergy,
Coal and gas currently account for 37% and 17% of Morocco's installed capacity (2023). Under the National Energy Strategy, the share of renewables in the power capacity should rise to 42% in 2020 (objective not achieved as the 2022 share was only 38%) and 52% in 2030 (12% from hydropower and 20% each for solar and wind). According to its Long-Term Strategy, Morocco aims to raise the share of renewables in the power mix to 80% by 2050.
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