$ 3.6 billion energy investments in Moroccan five-year plan

Investments in the energy sector reached $ 2.6 billion in 1995-1999 and will total $3.6 billion in the current five year development plan said Monday minister of industry, trade, energy and mining Mustapha Mansouri.

Opening here the conference USA-Africa on partnership in the field of energy part of the Tuscon process, Mansouri underscored the role of energy in Moroccan economy and how the use of clean power technologies and efficient use of energy were major concerns to the kingdom.

He hailed support by the USAID to the promotion of renewable and clean energies in Morocco saying it greatly helped in fighting poverty and reducing gaps in society.

The American side, led by deputy energy secretary Dan Reicher, said clean power favored economic development combining use of natural resources to reduction of negative effects on environment adding lower costs of clean energy types open new development perspectives.

The conference organized in Marrakesh Oct 16-18 by the Moroccan and the United States energy departments provides information on available financing opportunities, local renewable energy priorities and exchange between partners.