Leila Benali, Morocco's Minister of Energy Transition and Sustainable Development, revealed that the country will need more than $40 billion in investment over the next five years to support its energy transition and strengthen electrical interconnection. This funding is part of efforts to implement Morocco's national energy strategy and boost the share of renewables in electricity production. In an interview with Asharq on the sidelines of the OPEC conference in Vienna, Benali stated that «Morocco must inject over $20 billion into renewable energy and energy efficiency projects, in addition to more than $20 billion to improve energy connectivity between Africa and Europe». The minister noted that renewables already account for more than 45% of Morocco's electricity mix and are on track to reach 52% by 2030, in line with the Kingdom's strategic goals. However, she stressed the urgency of accelerating battery storage projects to help increase this share further, while highlighting the growing role of natural gas in the country's energy future. On the Morocco-Nigeria gas pipeline, Benali confirmed that Morocco is seeking to fast-track the project, adding that coordination with the Nigerian side is ongoing. The pipeline, which is expected to cost over $20 billion, remains a key regional infrastructure priority. She also announced a new $6 billion investment project to be unveiled at the end of July. The initiative aims to link the port of Nador with the southern city of Dakhla, marking the first phase of a corridor that will eventually extend toward Mauritania and Senegal. Benali said several infrastructure investment funds and non-sovereign institutions have expressed strong interest in taking part in the project, citing its attractive and stable return exceeding 10%. However, she declined to disclose the names of the interested parties.
