Saudi Arabia Helps Morocco Kick-Start Solar Program
Forbes | Lucien Zeigler | 7.19.12
Hailed as the next green energy leader in the sun-soaked Mediterranean, Morocco has been taking steps towards reaching a 40 percent renewable mix by 2020, essentially doubling even Europe’s clean energy goals. However, figuring out just how a country with little in the way of domestic energy reserves and rather unsustainable public spending obligations is going to pay for it all has remained a sticking point for all concerned.
The last few months have done little to remedy this situation. To the north, the country’s main trading partners and potential investors continue to struggle with a seemingly endless economic crisis. Closer to home, government spending has continued to rise in step with efforts to curb the kind of growing public protests that led to challenges to the government in Tunisia, Libya and Egypt. Taken with a nation-wide drought, the situation has left Morocco posting a modest 2.5 to 3 percent growth rate for the year.