ACWA Power, a Saudi Arabian renewable energy company, faces a significant setback in Morocco. A storage breakdown at their 150-megawatt solar plant, located within the Noor Ouarzazate complex, will force its closure until November 2024, incurring an estimated loss of $47 million.
ACWA Power plans to repair the current storage problem and is considering building a new storage tank.
A 2020 report by the country's economic council recommended abandoning CSP entirely due to its higher costs compared to solar photovoltaic and wind energy.
Morocco aims for renewable energy sources to contribute 52% of its installed power capacity by 2030, a significant increase from the current 37.6%. Solar and wind energy are expected to lead this transition.
Despite these ambitions, Morocco is currently falling behind on its solar goals. Only 831 megawatts (MW) of solar power have been installed so far, far short of the 2,000 MW target set for 2020. Wind energy has helped fill some of the gap, but polluting coal plants still provide the majority of the country's electricity.
ACWA Power's struggles with its solar plant highlight the complexities of transitioning to renewable energy. Morocco's ambitious goals will require not only increased investment but also a strategic focus on reliable and cost-effective technologies.
